Looking At Asana's Recent Unusual Options Activity

Someone with a lot of money to spend has taken a bullish stance on Asana ASAN.

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

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

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 $29,358, and 9, calls, for a total amount of $414,815..

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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 $17.5 to $20.0 for Asana over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Asana'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 Asana's whale activity within a strike price range from $17.5 to $20.0 in the last 30 days.

Asana Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Asana Standing Right Now?

• With a volume of 3,117,009, the price of ASAN is up 6.5% at $18.36.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 63 days.

What The Experts Say On Asana:

• RBC Capital downgraded its action to Underperform with a price target of $10
• Piper Sandler downgraded its action to Neutral with a price target of $24
• Morgan Stanley has decided to maintain their Equal-Weight rating on Asana, which currently sits at a price target of $23.
• Citigroup downgraded its action to Neutral with a price target of $24
• JMP Securities downgraded its action to Market Outperform with a price target of $30

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