A whale with a lot of money to spend has taken a noticeably bearish stance on Paycom Software.
Looking at options history for Paycom Software PAYC we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 27% of the investors opened trades with bullish expectations and 72% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $231,184 and 4, calls, for a total amount of $215,062.
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 $250.0 to $280.0 for Paycom Software 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 Paycom Software'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 Paycom Software's whale trades within a strike price range from $250.0 to $280.0 in the last 30 days.
Paycom Software 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 |
|---|---|---|---|---|---|---|---|---|
| PAYC | CALL | TRADE | BULLISH | 06/16/23 | $250.00 | $89.5K | 4 | 35 |
| PAYC | PUT | TRADE | BEARISH | 05/19/23 | $280.00 | $59.0K | 229 | 50 |
| PAYC | CALL | TRADE | BULLISH | 06/16/23 | $250.00 | $57.8K | 4 | 55 |
| PAYC | CALL | TRADE | BEARISH | 11/17/23 | $280.00 | $37.1K | 9 | 11 |
| PAYC | PUT | TRADE | BULLISH | 01/19/24 | $270.00 | $35.3K | 42 | 13 |
Where Is Paycom Software Standing Right Now?
- With a volume of 1,303,977, the price of PAYC is down -2.65% at $272.58.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 88 days.
What The Experts Say On Paycom Software:
- Needham downgraded its action to Buy with a price target of $450
- Deutsche Bank has decided to maintain their Buy rating on Paycom Software, which currently sits at a price target of $370.
- Keybanc has decided to maintain their Overweight rating on Paycom Software, which currently sits at a price target of $405.
- Credit Suisse has decided to maintain their Outperform rating on Paycom Software, which currently sits at a price target of $375.
- Piper Sandler downgraded its action to Overweight with a price target of $417
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 Paycom Software, Benzinga Pro gives you real-time options trades alerts.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.