Looking At Mohawk Industries's Recent Unusual Options Activity

Someone with a lot of money to spend has taken a bearish stance on Mohawk Industries MHK.

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

Today, Benzinga's options scanner spotted 13 options trades for Mohawk Industries.

This isn't normal.

The overall sentiment of these big-money traders is split between 38% bullish and 61%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $33,660, and 12, calls, for a total amount of $783,872..

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 $90.0 to $105.0 for Mohawk Industries over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Mohawk Industries'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 Mohawk Industries's whale trades within a strike price range from $90.0 to $105.0 in the last 30 days.

Mohawk Industries 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
MHK CALL TRADE NEUTRAL 05/19/23 $90.00 $132.8K 2.0K 175
MHK CALL TRADE BEARISH 05/19/23 $90.00 $74.5K 2.0K 73
MHK CALL TRADE BEARISH 05/19/23 $90.00 $72.5K 2.0K 444
MHK CALL SWEEP BULLISH 05/19/23 $90.00 $72.5K 2.0K 394
MHK CALL TRADE BEARISH 05/19/23 $90.00 $72.5K 2.0K 344

Where Is Mohawk Industries Standing Right Now?

  • With a volume of 286,376, the price of MHK is up 5.62% at $104.33.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 90 days.

What The Experts Say On Mohawk Industries:

  • B of A Securities has decided to maintain their Underperform rating on Mohawk Industries, which currently sits at a price target of $108.
  • Loop Capital upgraded its action to Buy with a price target of $115

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

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Posted In: OptionsMarketsBZI-UOA
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