This Is What Whales Are Betting On BlackRock

This Is What Whales Are Betting On BlackRock

 

Someone with a lot of money to spend has taken a bearish stance on BlackRock BLK.

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 BLK, 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 10 uncommon options trades for BlackRock.

This isn't normal.

The overall sentiment of these big-money traders is split between 30% bullish and 70%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $340,800, and 4 are calls, for a total amount of $776,470.

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 $560.0 to $730.0 for BlackRock 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 BlackRock'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 BlackRock's whale trades within a strike price range from $560.0 to $730.0 in the last 30 days.

BlackRock 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
BLK CALL TRADE BEARISH 08/19/22 $660.00 $407.5K 562 49
BLK CALL TRADE BEARISH 08/19/22 $660.00 $169.6K 562 89
BLK CALL TRADE BEARISH 08/19/22 $660.00 $169.6K 562 69
BLK PUT TRADE BULLISH 01/20/23 $560.00 $92.4K 37 88
BLK PUT TRADE BEARISH 01/20/23 $570.00 $64.9K 228 104

Where Is BlackRock Standing Right Now?

  • With a volume of 326,633, the price of BLK is down -1.92% at $742.5.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 56 days.

What The Experts Say On BlackRock:

  • Morgan Stanley has decided to maintain their Overweight rating on BlackRock, which currently sits at a price target of $773.
  • Deutsche Bank has decided to maintain their Buy rating on BlackRock, which currently sits at a price target of $860.

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

Posted In: BZI-UOAOptionsMarkets