This Is What Whales Are Betting On Activision Blizzard

Someone with a lot of money to spend has taken a bearish stance on Activision Blizzard ATVI.

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 ATVI, 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 Activision Blizzard.

This isn't normal.

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

Out of all of the special options we uncovered, 4 are puts, for a total amount of $157,880, and 7 are calls, for a total amount of $704,198.

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 $65.0 to $90.0 for Activision Blizzard 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 Activision Blizzard'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 Activision Blizzard's whale activity within a strike price range from $65.0 to $90.0 in the last 30 days.

Activision Blizzard 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
ATVI CALL TRADE BEARISH 01/19/24 $90.00 $502.5K 18.7K 1.7K
ATVI PUT TRADE BEARISH 01/20/23 $70.00 $55.0K 29.0K 655
ATVI CALL TRADE BULLISH 01/20/23 $70.00 $40.0K 10.5K 142
ATVI PUT TRADE BEARISH 12/23/22 $90.00 $37.3K 0 0
ATVI CALL SWEEP NEUTRAL 01/20/23 $80.00 $36.3K 23.7K 448

Where Is Activision Blizzard Standing Right Now?

  • With a volume of 4,036,760, the price of ATVI is up 1.25% at $76.7.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 59 days.

What The Experts Say On Activision Blizzard:

  • MKM Partners upgraded its action to Buy with a price target of $95
  • Truist Securities upgraded its action to Buy with a price target of $81
  • Wells Fargo upgraded its action to Overweight with a price target of $95
  • Morgan Stanley upgraded its action to Overweight with a price target of $95
  • Raymond James upgraded its action to Outperform with a price target of $95

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 Activision Blizzard, Benzinga Pro gives you real-time options trades alerts.

Market News and Data brought to you by Benzinga APIs
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