Someone with a lot of money to spend has taken a bearish stance on C3.ai AI.
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 AI, 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 40 uncommon options trades for C3.ai.
This isn't normal.
The overall sentiment of these big-money traders is split between 17% bullish and 82%, bearish.
Out of all of the special options we uncovered, 23 are puts, for a total amount of $1,650,253, and 17 are calls, for a total amount of $690,509.
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 $75.0 for C3.ai 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 C3.ai'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 C3.ai's whale trades within a strike price range from $12.5 to $75.0 in the last 30 days.
C3.ai 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 |
|---|---|---|---|---|---|---|---|---|
| AI | PUT | SWEEP | BEARISH | 06/02/23 | $40.00 | $660.0K | 1.3K | 1.7K |
| AI | PUT | SWEEP | BEARISH | 06/02/23 | $33.00 | $90.2K | 3.8K | 6.2K |
| AI | PUT | SWEEP | BEARISH | 08/18/23 | $20.00 | $79.7K | 3.1K | 2.5K |
| AI | PUT | SWEEP | BEARISH | 06/16/23 | $40.00 | $78.0K | 1.3K | 140 |
| AI | CALL | SWEEP | NEUTRAL | 06/02/23 | $30.00 | $75.3K | 3.3K | 526 |
Where Is C3.ai Standing Right Now?
- With a volume of 36,384,818, the price of AI is down -10.45% at $31.09.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 89 days.
What The Experts Say On C3.ai:
- Wedbush upgraded its action to Outperform with a price target of $50
- Piper Sandler has decided to maintain their Neutral rating on C3.ai, which currently sits at a price target of $29.
- Canaccord Genuity has decided to maintain their Hold rating on C3.ai, which currently sits at a price target of $27.
- B of A Securities has decided to maintain their Underperform rating on C3.ai, which currently sits at a price target of $18.
- DA Davidson downgraded its action to Neutral with a price target of $30
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 C3.ai, 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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