PureCycle Technologies Unusual Options Activity

Someone with a lot of money to spend has taken a bearish stance on PureCycle Technologies PCT.

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

Today, Benzinga's options scanner spotted 15 options trades for PureCycle Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $120,360, and 14, calls, for a total amount of $886,985..

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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 $8.0 to $20.0 for PureCycle Technologies over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for PureCycle Technologies options trades today is 4232.17 with a total volume of 14,291.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for PureCycle Technologies's big money trades within a strike price range of $8.0 to $20.0 over the last 30 days.

PureCycle Technologies Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is PureCycle Technologies Standing Right Now?

• With a volume of 4,029,733, the price of PCT is down -15.23% at $8.38.
• RSI indicators hint that the underlying stock may be oversold.
• Next earnings are expected to be released in 79 days.

What The Experts Say On PureCycle Technologies:

• Oppenheimer has decided to maintain their Outperform rating on PureCycle Technologies, which currently sits at a price target of $18.

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