A whale with a lot of money to spend has taken a noticeably bearish stance on Opendoor Technologies.
Looking at options history for Opendoor Technologies OPEN we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 20% of the investors opened trades with bullish expectations and 80% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $301,726 and 5, calls, for a total amount of $149,810.
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 $3.0 to $6.5 for Opendoor Technologies 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 Opendoor Technologies'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 Opendoor Technologies's whale trades within a strike price range from $3.0 to $6.5 in the last 30 days.
Opendoor Technologies Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
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| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| OPEN | PUT | SWEEP | BEARISH | 01/19/24 | $3.00 | $93.0K | 2.2K | 7.0K |
| OPEN | PUT | SWEEP | BEARISH | 01/19/24 | $3.00 | $90.1K | 2.2K | 5.0K |
| OPEN | PUT | TRADE | BEARISH | 08/19/22 | $6.00 | $45.2K | 5.0K | 384 |
| OPEN | PUT | SWEEP | BEARISH | 01/20/23 | $3.00 | $41.3K | 14.8K | 1.7K |
| OPEN | CALL | TRADE | BEARISH | 08/19/22 | $4.50 | $39.0K | 429 | 1.5K |
Where Is Opendoor Technologies Standing Right Now?
- With a volume of 8,918,132, the price of OPEN is down -6.82% at $4.71.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 82 days.
What The Experts Say On Opendoor Technologies:
- BTIG has decided to maintain their Buy rating on Opendoor Technologies, which currently sits at a price target of $9.
- Oppenheimer has decided to maintain their Outperform rating on Opendoor Technologies, which currently sits at a price target of $10.
- JMP Securities has decided to maintain their Market Outperform rating on Opendoor Technologies, which currently sits at a price target of $9.
- JP Morgan downgraded its action to Overweight with a price target of $9
- Goldman Sachs has decided to maintain their Neutral rating on Opendoor Technologies, which currently sits at a price target of $7.
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 Opendoor Technologies, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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