This Is What Whales Are Betting On Chewy

This Is What Whales Are Betting On Chewy

 

A whale with a lot of money to spend has taken a noticeably bearish stance on Chewy.

Looking at options history for Chewy CHWY we detected 18 strange trades.

If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 55% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $338,623 and 12, calls, for a total amount of $706,857.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $20.0 to $65.0 for Chewy over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Chewy options trades today is 1987.36 with a total volume of 11,229.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Chewy's big money trades within a strike price range of $20.0 to $65.0 over the last 30 days.

Chewy Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CHWY CALL TRADE BEARISH 10/21/22 $25.00 $116.3K 527 50
CHWY CALL TRADE NEUTRAL 09/16/22 $65.00 $112.5K 4.0K 1.5K
CHWY CALL TRADE BULLISH 01/20/23 $45.00 $109.0K 1.4K 294
CHWY PUT SWEEP BULLISH 09/16/22 $35.00 $94.5K 9.6K 1.2K
CHWY CALL SWEEP BULLISH 09/16/22 $45.00 $78.0K 2.2K 378

Where Is Chewy Standing Right Now?

  • With a volume of 3,758,459, the price of CHWY is up 6.47% at $47.32.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 23 days.

What The Experts Say On Chewy:

  • Wedbush downgraded its action to Neutral with a price target of $44

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Chewy, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets