Someone with a lot of money to spend has taken a bullish stance on Ebix EBIX.
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 EBIX, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 16 options trades for Ebix.
This isn't normal.
The overall sentiment of these big-money traders is split between 87% bullish and 12%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $99,900, and 15, calls, for a total amount of $792,612..
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 $25.0 for Ebix over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Ebix options trades today is 2177.14 with a total volume of 7,634.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Ebix's big money trades within a strike price range of $12.5 to $25.0 over the last 30 days.
Ebix 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 |
|---|---|---|---|---|---|---|---|---|
| EBIX | CALL | SWEEP | BULLISH | 09/15/23 | $25.00 | $106.7K | 1.7K | 660 |
| EBIX | PUT | TRADE | BEARISH | 01/19/24 | $15.00 | $99.9K | 32 | 333 |
| EBIX | CALL | SWEEP | BULLISH | 09/15/23 | $12.50 | $86.4K | 1.5K | 337 |
| EBIX | CALL | SWEEP | BULLISH | 09/15/23 | $12.50 | $81.7K | 1.5K | 188 |
| EBIX | CALL | SWEEP | BULLISH | 09/15/23 | $12.50 | $75.4K | 1.5K | 780 |
Where Is Ebix Standing Right Now?
- With a volume of 195,739, the price of EBIX is up 2.51% at $17.14.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 82 days.
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 Ebix, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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