Looking At Align Tech's Recent Unusual Options Activity

Someone with a lot of money to spend has taken a bullish stance on Align Tech ALGN.

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 ALGN, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 10 options trades for Align Tech.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $28,320, and 9, calls, for a total amount of $691,236..

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 $195.0 to $380.0 for Align Tech 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 Align Tech'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 Align Tech's whale trades within a strike price range from $195.0 to $380.0 in 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 CALL SWEEP BEARISH 10/20/23 $380.00 $316.5K 326 302
ALGN CALL SWEEP BEARISH 09/15/23 $310.00 $76.1K 51 5
ALGN CALL SWEEP BEARISH 09/15/23 $310.00 $70.2K 51 48
ALGN CALL TRADE BULLISH 09/15/23 $310.00 $47.1K 51 31
ALGN CALL TRADE BEARISH 09/15/23 $310.00 $46.8K 51 41

Where Is Align Tech Standing Right Now?

  • With a volume of 184,405, the price of ALGN is down -1.52% at $347.44.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 76 days.

What The Experts Say On Align Tech:

  • Goldman Sachs has decided to maintain their Neutral rating on Align Tech, which currently sits at a price target of $393.
  • Morgan Stanley has decided to maintain their Overweight rating on Align Tech, which currently sits at a price target of $415.

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.

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