A whale with a lot of money to spend has taken a noticeably bearish stance on First Republic Bank.
Looking at options history for First Republic Bank FRC we detected 108 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, 76 are puts, for a total amount of $13,005,786 and 32, calls, for a total amount of $3,157,083.
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 $60.0 to $120.0 for First Republic Bank over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for First Republic Bank options trades today is 389.34 with a total volume of 205,703.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for First Republic Bank's big money trades within a strike price range of $60.0 to $120.0 over the last 30 days.
First Republic Bank 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 |
|---|---|---|---|---|---|---|---|---|
| FRC | PUT | TRADE | BULLISH | 04/21/23 | $115.00 | $5.2M | 1.8K | 1.6K |
| FRC | PUT | TRADE | BULLISH | 03/17/23 | $70.00 | $593.5K | 14 | 10.3K |
| FRC | PUT | TRADE | BULLISH | 04/21/23 | $115.00 | $562.5K | 1.8K | 300 |
| FRC | CALL | TRADE | BEARISH | 03/17/23 | $85.00 | $194.1K | 15 | 1.0K |
| FRC | PUT | SWEEP | BEARISH | 05/19/23 | $90.00 | $168.5K | 384 | 175 |
Where Is First Republic Bank Standing Right Now?
- With a volume of 44,582,258, the price of FRC is down -12.61% at $83.9.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 33 days.
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 First Republic Bank, Benzinga Pro gives you real-time options trades alerts.
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