Looking At Allstate's Recent Whale Trades

Looking At Allstate's Recent Whale Trades

Someone with a lot of money to spend has taken a bearish stance on Allstate ALL.

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 ALL, it often means somebody knows something is about to happen.

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

This isn't normal.

The overall sentiment of these big-money traders is split between 7% bullish and 92%, bearish.

Out of all of the options we uncovered, 13 are puts, for a total amount of $558,710, and there was 1 call, for a total amount of $45,500.

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 $125.0 to $130.0 for Allstate over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Allstate'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 Allstate's whale activity within a strike price range from $125.0 to $130.0 in the last 30 days.

Allstate 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
ALL PUT TRADE BEARISH 10/21/22 $130.00 $49.5K 1.0K 108
ALL PUT TRADE BEARISH 10/21/22 $130.00 $49.5K 1.0K 58
ALL PUT TRADE NEUTRAL 10/21/22 $130.00 $49.1K 1.0K 262
ALL PUT TRADE BEARISH 10/21/22 $130.00 $49.0K 1.0K 552
ALL PUT TRADE NEUTRAL 10/21/22 $130.00 $48.4K 1.0K 412

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
ALL PUT TRADE BEARISH 10/21/22 $130.00 $49.5K 1.0K 108
ALL PUT TRADE BEARISH 10/21/22 $130.00 $49.5K 1.0K 58
ALL PUT TRADE NEUTRAL 10/21/22 $130.00 $49.1K 1.0K 262
ALL PUT TRADE BEARISH 10/21/22 $130.00 $49.0K 1.0K 552
ALL PUT TRADE NEUTRAL 10/21/22 $130.00 $48.4K 1.0K 412

Where Is Allstate Standing Right Now?

  • With a volume of 5,209,968, the price of ALL is down -11.74% at $119.28.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 13 days.

What The Experts Say On Allstate:

  • Wells Fargo has decided to maintain their Underweight rating on Allstate, which currently sits at a price target of $112.
  • Barclays has decided to maintain their Equal-Weight rating on Allstate, which currently sits at a price target of $112.
  • Barclays has decided to maintain their Equal-Weight rating on Allstate, which currently sits at a price target of $127.

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

Posted In: BZI-UOAOptionsMarkets