A whale with a lot of money to spend has taken a noticeably bullish stance on Western Alliance.
Looking at options history for Western Alliance WAL we detected 12 strange trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $144,018 and 10, calls, for a total amount of $615,140.
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 $35.0 to $55.0 for Western Alliance over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Western Alliance options trades today is 534.11 with a total volume of 1,884.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Western Alliance's big money trades within a strike price range of $35.0 to $55.0 over the last 30 days.
Western Alliance 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 |
|---|---|---|---|---|---|---|---|---|
| WAL | CALL | TRADE | BULLISH | 08/18/23 | $40.00 | $208.0K | 313 | 206 |
| WAL | CALL | TRADE | BULLISH | 01/17/25 | $40.00 | $79.5K | 885 | 101 |
| WAL | PUT | SWEEP | BULLISH | 12/15/23 | $45.00 | $72.2K | 1.2K | 197 |
| WAL | PUT | SWEEP | BULLISH | 12/15/23 | $45.00 | $71.7K | 1.2K | 500 |
| WAL | CALL | TRADE | BULLISH | 07/19/24 | $45.00 | $58.5K | 122 | 70 |
Where Is Western Alliance Standing Right Now?
- With a volume of 1,507,526, the price of WAL is up 3.68% at $50.12.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 87 days.
What The Experts Say On Western Alliance:
- Stephens & Co. downgraded its action to Overweight with a price target of $65
- Truist Securities has decided to maintain their Buy rating on Western Alliance, which currently sits at a price target of $60.
- JP Morgan has decided to maintain their Overweight rating on Western Alliance, which currently sits at a price target of $60.
- RBC Capital has decided to maintain their Outperform rating on Western Alliance, which currently sits at a price target of $56.
- Truist Securities has decided to maintain their Buy rating on Western Alliance, which currently sits at a price target of $50.
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 Western Alliance, 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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