Someone with a lot of money to spend has taken a bearish stance on New Fortress Energy NFE.
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 NFE, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 12 options trades for New Fortress Energy.
This isn't normal.
The overall sentiment of these big-money traders is split between 16% bullish and 83%, bearish.
Out of all of the options we uncovered, 11 are puts, for a total amount of $484,410, and there was 1 call, for a total amount of $38,000.
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 $45.0 to $55.0 for New Fortress Energy 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 New Fortress Energy'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 New Fortress Energy's whale trades within a strike price range from $45.0 to $55.0 in the last 30 days.
New Fortress Energy 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 |
|---|---|---|---|---|---|---|---|---|
| NFE | PUT | TRADE | BEARISH | 10/21/22 | $45.00 | $66.5K | 6 | 2.5K |
| NFE | PUT | TRADE | NEUTRAL | 12/16/22 | $55.00 | $52.0K | 52 | 286 |
| NFE | PUT | TRADE | BULLISH | 12/16/22 | $55.00 | $48.4K | 52 | 184 |
| NFE | PUT | TRADE | BEARISH | 10/21/22 | $45.00 | $46.8K | 6 | 515 |
| NFE | PUT | TRADE | BEARISH | 12/16/22 | $55.00 | $45.7K | 52 | 442 |
Where Is New Fortress Energy Standing Right Now?
- With a volume of 707,693, the price of NFE is up 2.26% at $58.87.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 55 days.
What The Experts Say On New Fortress Energy:
- JMP Securities has decided to maintain their Market Outperform rating on New Fortress Energy, which currently sits at a price target of $70.
- Morgan Stanley has decided to maintain their Overweight rating on New Fortress Energy, which currently sits at a price target of $65.
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 New Fortress Energy, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
