Someone with a lot of money to spend has taken a bearish stance on Exact Sciences EXAS.
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 EXAS, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 18 options trades for Exact Sciences.
This isn't normal.
The overall sentiment of these big-money traders is split between 27% bullish and 72%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $30,780, and 17, calls, for a total amount of $717,230..
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 $60.0 to $105.0 for Exact Sciences 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 Exact Sciences'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 Exact Sciences's whale activity within a strike price range from $60.0 to $105.0 in the last 30 days.
Exact Sciences 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 |
|---|---|---|---|---|---|---|---|---|
| EXAS | CALL | SWEEP | BULLISH | 05/12/23 | $67.00 | $69.5K | 1.0K | 1 |
| EXAS | CALL | TRADE | BEARISH | 05/12/23 | $67.00 | $67.8K | 1.0K | 419 |
| EXAS | CALL | TRADE | BEARISH | 05/12/23 | $67.00 | $64.4K | 1.0K | 548 |
| EXAS | CALL | TRADE | NEUTRAL | 05/12/23 | $67.00 | $54.0K | 1.0K | 462 |
| EXAS | CALL | TRADE | NEUTRAL | 05/12/23 | $67.00 | $49.4K | 1.0K | 462 |
Where Is Exact Sciences Standing Right Now?
- With a volume of 1,165,432, the price of EXAS is up 1.78% at $79.46.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 81 days.
What The Experts Say On Exact Sciences:
- Baird has decided to maintain their Outperform rating on Exact Sciences, which currently sits at a price target of $99.
- Citigroup has decided to maintain their Buy rating on Exact Sciences, which currently sits at a price target of $100.
- UBS downgraded its action to Neutral with a price target of $73
- Craig-Hallum upgraded its action to Buy with a price target of $85
- Credit Suisse has decided to maintain their Neutral rating on Exact Sciences, which currently sits at a price target of $75.
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 Exact Sciences, 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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