What Are Whales Doing With Costco Wholesale

What Are Whales Doing With Costco Wholesale

 

Someone with a lot of money to spend has taken a bearish stance on Costco Wholesale COST.

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 COST, 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 30 uncommon options trades for Costco Wholesale.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.

Out of all of the special options we uncovered, 11 are puts, for a total amount of $639,316, and 19 are calls, for a total amount of $1,187,298.

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 $300.0 to $640.0 for Costco Wholesale over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Costco Wholesale options trades today is 340.12 with a total volume of 2,936.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Costco Wholesale's big money trades within a strike price range of $300.0 to $640.0 over the last 30 days.

Costco Wholesale 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
COST CALL SWEEP NEUTRAL 08/19/22 $500.00 $189.3K 424 39
COST CALL SWEEP NEUTRAL 01/20/23 $535.00 $185.7K 188 37
COST PUT TRADE BULLISH 06/16/23 $550.00 $138.3K 80 29
COST PUT TRADE BULLISH 01/19/24 $520.00 $133.9K 144 29
COST CALL TRADE BULLISH 09/16/22 $560.00 $133.0K 1.0K 355

Where Is Costco Wholesale Standing Right Now?

  • With a volume of 1,389,010, the price of COST is up 1.74% at $555.25.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 37 days.

What The Experts Say On Costco Wholesale:

  • Raymond James has decided to maintain their Outperform rating on Costco Wholesale, which currently sits at a price target of $600.
  • Goldman Sachs has decided to maintain their Buy rating on Costco Wholesale, which currently sits at a price target of $573.

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

Posted In: BZI-UOAOptionsMarkets