Someone with a lot of money to spend has taken a bearish stance on Albemarle ALB.
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 ALB, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Albemarle.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $47,500, and 9, calls, for a total amount of $357,802..
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 $190.0 to $320.0 for Albemarle over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Albemarle options trades today is 1719.86 with a total volume of 1,617.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Albemarle's big money trades within a strike price range of $190.0 to $320.0 over the last 30 days.
Albemarle 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 |
|---|---|---|---|---|---|---|---|---|
| ALB | CALL | SWEEP | BULLISH | 06/02/23 | $212.50 | $74.0K | 144 | 402 |
| ALB | PUT | TRADE | NEUTRAL | 01/19/24 | $190.00 | $47.5K | 11.0K | 25 |
| ALB | CALL | TRADE | NEUTRAL | 07/21/23 | $190.00 | $46.3K | 22 | 38 |
| ALB | CALL | TRADE | NEUTRAL | 09/15/23 | $210.00 | $43.8K | 217 | 31 |
| ALB | CALL | SWEEP | BULLISH | 06/02/23 | $212.50 | $36.4K | 144 | 202 |
Where Is Albemarle Standing Right Now?
- With a volume of 1,208,706, the price of ALB is down -3.36% at $205.09.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 69 days.
What The Experts Say On Albemarle:
- Mizuho has decided to maintain their Neutral rating on Albemarle, which currently sits at a price target of $225.
- Mizuho has decided to maintain their Neutral rating on Albemarle, which currently sits at a price target of $224.
- BMO Capital has decided to maintain their Outperform rating on Albemarle, which currently sits at a price target of $300.
- RBC Capital has decided to maintain their Outperform rating on Albemarle, which currently sits at a price target of $255.
- Scotiabank upgraded its action to Sector Outperform with a price target of $250
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 Albemarle, 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 |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
