Someone with a lot of money to spend has taken a bearish stance on Zions Bancorp ZION.
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 ZION, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 14 options trades for Zions Bancorp.
This isn't normal.
The overall sentiment of these big-money traders is split between 21% bullish and 78%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $30,000, and 13, calls, for a total amount of $959,400..
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 $12.5 to $45.0 for Zions Bancorp 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 Zions Bancorp'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 Zions Bancorp's whale activity within a strike price range from $12.5 to $45.0 in the last 30 days.
Zions Bancorp 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 |
|---|---|---|---|---|---|---|---|---|
| ZION | CALL | SWEEP | BEARISH | 07/21/23 | $30.00 | $216.8K | 551 | 904 |
| ZION | CALL | TRADE | BEARISH | 07/19/24 | $20.00 | $112.0K | 14 | 100 |
| ZION | CALL | SWEEP | BEARISH | 06/16/23 | $27.50 | $102.0K | 211 | 621 |
| ZION | CALL | SWEEP | BEARISH | 07/21/23 | $25.00 | $95.5K | 105 | 204 |
| ZION | CALL | TRADE | BEARISH | 09/15/23 | $32.50 | $87.5K | 168 | 350 |
Where Is Zions Bancorp Standing Right Now?
- With a volume of 3,212,918, the price of ZION is down -3.52% at $26.88.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 85 days.
What The Experts Say On Zions Bancorp:
- Argus Research has decided to maintain their Buy rating on Zions Bancorp, which currently sits at a price target of $43.
- Baird upgraded its action to Outperform with a price target of $60
- Keefe, Bruyette & Woods has decided to maintain their Market Perform rating on Zions Bancorp, which currently sits at a price target of $38.
- Piper Sandler has decided to maintain their Overweight rating on Zions Bancorp, which currently sits at a price target of $43.
- RBC Capital has decided to maintain their Sector Perform rating on Zions Bancorp, which currently sits at a price target of $40.
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 Zions Bancorp, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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