This Is What Whales Are Betting On Peloton Interactive

This Is What Whales Are Betting On Peloton Interactive

Someone with a lot of money to spend has taken a bullish stance on Peloton Interactive PTON.

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 PTON, 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 11 uncommon options trades for Peloton Interactive.

This isn't normal.

The overall sentiment of these big-money traders is split between 72% bullish and 27%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $190,110, and 8 are calls, for a total amount of $864,060.

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 $10.0 to $145.0 for Peloton Interactive over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Peloton Interactive options trades today is 21404.86 with a total volume of 15,759.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Peloton Interactive's big money trades within a strike price range of $10.0 to $145.0 over the last 30 days.

Peloton Interactive 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
PTON CALL SWEEP BULLISH 01/19/24 $25.00 $214.5K 68.7K 1.6K
PTON CALL SWEEP BULLISH 06/16/23 $15.00 $170.1K 60.5K 878
PTON CALL SWEEP BULLISH 06/16/23 $15.00 $162.4K 60.5K 2.3K
PTON PUT SWEEP BULLISH 01/19/24 $10.00 $127.4K 7.1K 507
PTON CALL SWEEP BEARISH 01/20/23 $12.50 $122.0K 7.7K 1.2K

Where Is Peloton Interactive Standing Right Now?

  • With a volume of 7,284,012, the price of PTON is up 3.43% at $11.77.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 68 days.

What The Experts Say On Peloton Interactive:

  • Cowen & Co. downgraded its action to Market Perform with a price target of $12
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Peloton Interactive, which currently sits at a price target of $5.
  • Credit Suisse has decided to maintain their Neutral rating on Peloton Interactive, which currently sits at a price target of $10.
  • JMP Securities has decided to maintain their Market Outperform rating on Peloton Interactive, which currently sits at a price target of $16.
  • Goldman Sachs has decided to maintain their Neutral rating on Peloton Interactive, which currently sits at a price target of $12.

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

Posted In: BZI-UOAOptionsMarkets