This Is What Whales Are Betting On Paramount Global

This Is What Whales Are Betting On Paramount Global

Someone with a lot of money to spend has taken a bearish stance on Paramount Global PARA.

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 PARA, 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 Paramount Global.

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, 19 are puts, for a total amount of $1,627,727, and 11 are calls, for a total amount of $422,391.

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 $15.0 to $30.0 for Paramount Global 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 Paramount Global'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 Paramount Global's whale activity within a strike price range from $15.0 to $30.0 in the last 30 days.

Paramount Global 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
PARA PUT SWEEP BULLISH 01/20/23 $27.00 $388.9K 17.5K 40
PARA PUT SWEEP BEARISH 01/20/23 $30.00 $234.7K 21.3K 260
PARA PUT SWEEP BEARISH 05/19/23 $15.00 $137.7K 1.7K 3.0K
PARA PUT SWEEP BEARISH 05/19/23 $15.00 $136.2K 1.7K 5.4K
PARA PUT SWEEP BEARISH 05/19/23 $15.00 $112.8K 1.7K 1.2K

Where Is Paramount Global Standing Right Now?

  • With a volume of 24,659,971, the price of PARA is up 6.16% at $19.63.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 91 days.

What The Experts Say On Paramount Global:

  • Needham has decided to maintain their Buy rating on Paramount Global, which currently sits at a price target of $23.
  • Rosenblatt has decided to maintain their Sell rating on Paramount Global, which currently sits at a price target of $15.
  • Rosenblatt has decided to maintain their Sell rating on Paramount Global, which currently sits at a price target of $13.
  • Wells Fargo downgraded its action to Underweight with a price target of $13
  • Morgan Stanley has decided to maintain their Underweight rating on Paramount Global, which currently sits at a price target of $15.

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

Posted In: BZI-UOAOptionsMarkets