Looking At Unity Software's Recent Unusual Options Activity

Looking At Unity Software's Recent Unusual Options Activity

Someone with a lot of money to spend has taken a bearish stance on Unity Software U.

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 U, 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 16 uncommon options trades for Unity Software.

This isn't normal.

The overall sentiment of these big-money traders is split between 18% bullish and 81%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $368,001, and 9 are calls, for a total amount of $543,751.

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 $22.5 to $50.0 for Unity Software over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Unity Software options trades today is 2468.75 with a total volume of 8,892.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Unity Software's big money trades within a strike price range of $22.5 to $50.0 over the last 30 days.

Unity Software 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
U CALL SWEEP BULLISH 01/20/23 $35.00 $129.8K 2.0K 31
U PUT SWEEP BEARISH 11/18/22 $34.00 $127.9K 2.7K 1.0K
U CALL TRADE BEARISH 01/20/23 $40.00 $120.5K 6.6K 525
U CALL SWEEP BULLISH 02/17/23 $35.00 $83.8K 775 173
U PUT SWEEP BEARISH 12/16/22 $35.00 $59.7K 493 254

Where Is Unity Software Standing Right Now?

  • With a volume of 9,869,202, the price of U is up 1.02% at $33.62.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 77 days.

What The Experts Say On Unity Software:

  • Stifel has decided to maintain their Buy rating on Unity Software, which currently sits at a price target of $40.
  • Piper Sandler upgraded its action to Overweight with a price target of $38
  • Piper Sandler has decided to maintain their Overweight rating on Unity Software, which currently sits at a price target of $33.
  • BTIG has decided to maintain their Buy rating on Unity Software, which currently sits at a price target of $44.
  • Credit Suisse has decided to maintain their Outperform rating on Unity Software, which currently sits at a price target of $71.

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

Posted In: BZI-UOAOptionsMarkets