This Is What Whales Are Betting On Pure Storage

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A whale with a lot of money to spend has taken a noticeably bearish stance on Pure Storage.

Looking at options history for Pure Storage PSTG we detected 11 strange trades.

If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 63% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $88,500 and 9, calls, for a total amount of $1,007,221.

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 $25.0 to $30.0 for Pure Storage over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Pure Storage options trades today is 6475.14 with a total volume of 9,724.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Pure Storage's big money trades within a strike price range of $25.0 to $30.0 over the last 30 days.

Pure Storage Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
PSTG CALL TRADE BEARISH 01/20/23 $30.00 $485.0K 3.5K 2.5K
PSTG CALL SWEEP NEUTRAL 12/16/22 $28.00 $168.7K 1.8K 835
PSTG CALL SWEEP BULLISH 12/16/22 $27.00 $74.4K 3.9K 258
PSTG CALL SWEEP NEUTRAL 12/16/22 $27.00 $62.9K 3.9K 865
PSTG CALL SWEEP NEUTRAL 01/20/23 $25.00 $57.7K 24.9K 440

Where Is Pure Storage Standing Right Now?

  • With a volume of 6,259,028, the price of PSTG is up 2.3% at $29.86.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 62 days.

What The Experts Say On Pure Storage:

  • JP Morgan has decided to maintain their Overweight rating on Pure Storage, which currently sits at a price target of $40.
  • Raymond James has decided to maintain their Strong Buy rating on Pure Storage, which currently sits at a price target of $43.
  • Credit Suisse has decided to maintain their Outperform rating on Pure Storage, which currently sits at a price target of $40.

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

Overview Rating:
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