This Is What Whales Are Betting On Blackstone

This Is What Whales Are Betting On Blackstone

 

Someone with a lot of money to spend has taken a bearish stance on Blackstone BX.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with BX, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 14 uncommon options trades for Blackstone.

This isn't normal.

The overall sentiment of these big-money traders is split between 35% bullish and 64%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $555,168, and 10 are calls, for a total amount of $550,029.

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 $100.0 to $125.0 for Blackstone over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Blackstone's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Blackstone's whale trades within a strike price range from $100.0 to $125.0 in the last 30 days.

Blackstone 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
BX CALL SWEEP BEARISH 09/16/22 $105.00 $216.0K 2.2K 311
BX PUT TRADE BEARISH 01/20/23 $125.00 $213.5K 1.0K 200
BX PUT TRADE NEUTRAL 01/20/23 $125.00 $213.5K 1.0K 100
BX PUT TRADE BULLISH 09/16/22 $100.00 $77.1K 6.6K 394
BX CALL TRADE BULLISH 08/26/22 $100.00 $62.4K 218 101

Where Is Blackstone Standing Right Now?

  • With a volume of 2,017,271, the price of BX is up 0.37% at $109.19.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 66 days.

What The Experts Say On Blackstone:

  • Keefe, Bruyette & Woods downgraded its action to Market Perform with a price target of $115
  • Morgan Stanley has decided to maintain their Overweight rating on Blackstone, which currently sits at a price target of $121.
  • Deutsche Bank has decided to maintain their Buy rating on Blackstone, which currently sits at a price target of $153.
  • Piper Sandler has decided to maintain their Overweight rating on Blackstone, which currently sits at a price target of $120.
  • Morgan Stanley has decided to maintain their Overweight rating on Blackstone, which currently sits at a price target of $125.

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 Blackstone, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets