A whale with a lot of money to spend has taken a noticeably bullish stance on Align Tech.
Looking at options history for Align Tech ALGN we detected 14 strange trades.
If we consider the specifics of each trade, it is accurate to state that 57% of the investors opened trades with bullish expectations and 42% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $264,950 and 11, calls, for a total amount of $614,764.
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 $280.0 to $400.0 for Align Tech over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Align Tech options trades today is 120.36 with a total volume of 2,738.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Align Tech's big money trades within a strike price range of $280.0 to $400.0 over the last 30 days.
Align Tech 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 |
|---|---|---|---|---|---|---|---|---|
| ALGN | PUT | SWEEP | BULLISH | 07/28/23 | $322.50 | $173.9K | 25 | 201 |
| ALGN | CALL | SWEEP | BEARISH | 07/28/23 | $380.00 | $132.0K | 175 | 442 |
| ALGN | CALL | SWEEP | NEUTRAL | 07/28/23 | $380.00 | $77.9K | 175 | 797 |
| ALGN | CALL | TRADE | BULLISH | 10/20/23 | $360.00 | $67.6K | 68 | 40 |
| ALGN | CALL | SWEEP | BEARISH | 08/18/23 | $360.00 | $66.5K | 366 | 5 |
Where Is Align Tech Standing Right Now?
- With a volume of 1,070,283, the price of ALGN is up 2.32% at $339.85.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 0 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 Align Tech, 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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