Check Out What Whales Are Doing With ETSY

Someone with a lot of money to spend has taken a bullish stance on Etsy ETSY.

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 ETSY, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 10 options trades for Etsy.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the options we uncovered, 9 are puts, for a total amount of $379,905, and there was 1 call, for a total amount of $33,750.

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 $85.0 to $150.0 for Etsy 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 Etsy'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 Etsy's whale activity within a strike price range from $85.0 to $150.0 in the last 30 days.

Etsy Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Etsy Standing Right Now?

• With a volume of 1,196,298, the price of ETSY is down -1.79% at $103.39.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 27 days.

What The Experts Say On Etsy:

• Piper Sandler upgraded its action to Overweight with a price target of $140
• Jefferies downgraded its action to Underperform with a price target of $85
• Needham downgraded its action to Buy with a price target of $160
• Evercore ISI Group has decided to maintain their Outperform rating on Etsy, which currently sits at a price target of $140.

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