Someone with a lot of money to spend has taken a bullish stance on Prothena Corp PRTA.
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 PRTA, 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 14 uncommon options trades for Prothena Corp.
This isn't normal.
The overall sentiment of these big-money traders is split between 71% bullish and 28%, bearish.
Out of all of the special options we uncovered, 12 are puts, for a total amount of $1,149,128, and 2 are calls, for a total amount of $90,550.
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 $65.0 to $85.0 for Prothena Corp over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Prothena Corp options trades today is 40.67 with a total volume of 14,792.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Prothena Corp's big money trades within a strike price range of $65.0 to $85.0 over the last 30 days.
Prothena Corp 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 |
|---|---|---|---|---|---|---|---|---|
| PRTA | PUT | SWEEP | BEARISH | 01/19/24 | $65.00 | $232.4K | 11 | 280 |
| PRTA | PUT | TRADE | BULLISH | 01/19/24 | $65.00 | $180.0K | 11 | 580 |
| PRTA | PUT | TRADE | BULLISH | 01/19/24 | $65.00 | $108.0K | 11 | 1.0K |
| PRTA | PUT | TRADE | BULLISH | 01/19/24 | $65.00 | $90.0K | 11 | 1.4K |
| PRTA | PUT | TRADE | BULLISH | 01/19/24 | $65.00 | $90.0K | 11 | 1.3K |
Where Is Prothena Corp Standing Right Now?
- With a volume of 665,108, the price of PRTA is down -2.16% at $76.89.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 91 days.
What The Experts Say On Prothena Corp:
- HC Wainwright & Co. has decided to maintain their Buy rating on Prothena Corp, which currently sits at a price target of $90.
- RBC Capital has decided to maintain their Sector Perform rating on Prothena Corp, which currently sits at a price target of $60.
- RBC Capital downgraded its action to Sector Perform with a price target of $55
- Cantor Fitzgerald has decided to maintain their Overweight rating on Prothena Corp, which currently sits at a price target of $120.
- SVB Leerink downgraded its action to Outperform with a price target of $80
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 Prothena Corp, 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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