Someone with a lot of money to spend has taken a bullish stance on Sunrun RUN.
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 RUN, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 15 options trades for Sunrun.
This isn't normal.
The overall sentiment of these big-money traders is split between 93% bullish and 6%, bearish.
Out of all of the options we uncovered, 14 are puts, for a total amount of $805,380, and there was 1 call, for a total amount of $44,500.
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 $30.0 to $50.0 for Sunrun over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Sunrun options trades today is 1181.4 with a total volume of 2,395.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Sunrun's big money trades within a strike price range of $30.0 to $50.0 over the last 30 days.
Sunrun 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 |
|---|---|---|---|---|---|---|---|---|
| RUN | PUT | TRADE | BULLISH | 01/20/23 | $30.00 | $284.9K | 5.5K | 1.1K |
| RUN | PUT | SWEEP | BULLISH | 02/17/23 | $35.00 | $100.6K | 238 | 156 |
| RUN | CALL | TRADE | BEARISH | 09/15/23 | $45.00 | $44.5K | 9 | 100 |
| RUN | PUT | TRADE | BULLISH | 01/17/25 | $50.00 | $40.0K | 58 | 50 |
| RUN | PUT | TRADE | BULLISH | 01/17/25 | $50.00 | $40.0K | 58 | 16 |
Where Is Sunrun Standing Right Now?
- With a volume of 3,175,724, the price of RUN is down -0.94% at $31.02.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 79 days.
What The Experts Say On Sunrun:
- Morgan Stanley has decided to maintain their Overweight rating on Sunrun, which currently sits at a price target of $72.
- JP Morgan has decided to maintain their Overweight rating on Sunrun, which currently sits at a price target of $45.
- RBC Capital has decided to maintain their Outperform rating on Sunrun, which currently sits at a price target of $42.
- Deutsche Bank downgraded its action to Buy with a price target of $36
- BMO Capital has decided to maintain their Outperform rating on Sunrun, which currently sits at a price target of $39.
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 Sunrun, 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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