Blackstone Unusual Options Activity For August 04

Someone with a lot of money to spend has taken a bullish stance on Blackstone BX.

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 BX, 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 11 uncommon options trades for Blackstone.

This isn't normal.

The overall sentiment of these big-money traders is split between 63% bullish and 36%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $852,670, and 4 are calls, for a total amount of $238,534.

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 $82.5 to $106.0 for Blackstone over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Blackstone options trades today is 2138.11 with a total volume of 2,774.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Blackstone's big money trades within a strike price range of $82.5 to $106.0 over the last 30 days.

Blackstone Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
BX PUT TRADE BULLISH 06/21/24 $90.00 $492.0K 721 800
BX PUT TRADE BULLISH 10/20/23 $95.00 $185.2K 626 901
BX CALL TRADE BULLISH 09/15/23 $105.00 $117.4K 10.1K 310
BX CALL TRADE NEUTRAL 10/20/23 $105.00 $61.0K 3.8K 102
BX PUT SWEEP BULLISH 01/19/24 $95.00 $45.0K 984 206

Where Is Blackstone Standing Right Now?

  • With a volume of 2,937,008, the price of BX is up 0.12% at $102.73.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 76 days.

What The Experts Say On Blackstone:

  • Barclays has decided to maintain their Equal-Weight rating on Blackstone, which currently sits at a price target of $101.
  • Goldman Sachs has decided to maintain their Buy rating on Blackstone, which currently sits at a price target of $112.
  • Wells Fargo has decided to maintain their Overweight rating on Blackstone, which currently sits at a price target of $118.
  • JP Morgan downgraded its action to Neutral with a price target of $111
  • Piper Sandler has decided to maintain their Overweight rating on Blackstone, which currently sits at a price target of $115.

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 Blackstone, Benzinga Pro gives you real-time options trades alerts.

Market News and Data brought to you by Benzinga APIs
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Posted In: OptionsMarketsBZI-UOA
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