Someone with a lot of money to spend has taken a bullish stance on Saia SAIA.
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 SAIA, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 12 options trades for Saia.
This isn't normal.
The overall sentiment of these big-money traders is split between 83% bullish and 16%, bearish.
Out of all of the options we uncovered, 11 are puts, for a total amount of $729,455, and there was 1 call, for a total amount of $25,210.
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- Revolutionary Manufacturing Approach – Inspired by Henry Ford’s assembly line, Boxabl’s foldable tiny homes are designed for high-efficiency production, making homeownership more accessible.
- Affordable Investment Opportunity – With homes priced at $60,000, Boxabl is raising $1 billion to scale production, offering investors a chance to own a stake in its growth.
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 $175.0 to $400.0 for Saia over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Saia options trades today is 12.25 with a total volume of 807.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Saia's big money trades within a strike price range of $175.0 to $400.0 over the last 30 days.
Saia 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 |
|---|---|---|---|---|---|---|---|---|
| SAIA | PUT | SWEEP | BULLISH | 01/19/24 | $400.00 | $141.2K | 24 | 16 |
| SAIA | PUT | SWEEP | BULLISH | 01/19/24 | $400.00 | $79.2K | 24 | 94 |
| SAIA | PUT | SWEEP | BEARISH | 10/20/23 | $380.00 | $76.0K | 5 | 200 |
| SAIA | PUT | TRADE | BULLISH | 10/20/23 | $380.00 | $73.0K | 5 | 100 |
| SAIA | PUT | TRADE | BULLISH | 01/19/24 | $390.00 | $60.7K | 20 | 24 |
Where Is Saia Standing Right Now?
- With a volume of 93,350, the price of SAIA is down -0.99% at $413.85.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 46 days.
What The Experts Say On Saia:
- B of A Securities has decided to maintain their Buy rating on Saia, which currently sits at a price target of $500.
- Stephens & Co. downgraded its action to Overweight with a price target of $530
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 Saia, Benzinga Pro gives you real-time options trades alerts.
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