This Is What Whales Are Betting On Metropolitan Bank Holding

Someone with a lot of money to spend has taken a bearish stance on Metropolitan Bank Holding MCB.

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 MCB, 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 10 uncommon options trades for Metropolitan Bank Holding.

This isn't normal.

The overall sentiment of these big-money traders is split between 30% bullish and 70%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $502,329, and 2 are calls, for a total amount of $80,532.

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 $20.0 to $30.0 for Metropolitan Bank Holding over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Metropolitan Bank Holding options trades today is 862.75 with a total volume of 2,370.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Metropolitan Bank Holding's big money trades within a strike price range of $20.0 to $30.0 over the last 30 days.

Metropolitan Bank Holding Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Metropolitan Bank Holding Standing Right Now?

• With a volume of 286,845, the price of MCB is up 6.11% at $29.33.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 12 days.

What The Experts Say On Metropolitan Bank Holding:

• Keefe, Bruyette & Woods has decided to maintain their Outperform rating on Metropolitan Bank Holding, which currently sits at a price target of $69.

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 Metropolitan Bank Holding, Benzinga Pro gives you real-time options trades alerts.