Someone with a lot of money to spend has taken a bullish stance on O'Reilly Automotive ORLY.
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 ORLY, 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 10 uncommon options trades for O'Reilly Automotive.
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 special options we uncovered, 6 are puts, for a total amount of $306,346, and 4 are calls, for a total amount of $504,300.
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 $890.0 to $930.0 for O'Reilly Automotive over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for O'Reilly Automotive options trades today is 120.2 with a total volume of 499.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for O'Reilly Automotive's big money trades within a strike price range of $890.0 to $930.0 over the last 30 days.
O'Reilly Automotive 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 |
|---|---|---|---|---|---|---|---|---|
| ORLY | CALL | SWEEP | BULLISH | 11/17/23 | $900.00 | $245.7K | 28 | 89 |
| ORLY | CALL | SWEEP | BULLISH | 11/17/23 | $900.00 | $119.7K | 28 | 90 |
| ORLY | CALL | SWEEP | BULLISH | 11/17/23 | $900.00 | $107.1K | 28 | 162 |
| ORLY | PUT | SWEEP | NEUTRAL | 11/17/23 | $930.00 | $81.2K | 244 | 50 |
| ORLY | PUT | TRADE | BEARISH | 11/17/23 | $890.00 | $69.6K | 143 | 0 |
Where Is O'Reilly Automotive Standing Right Now?
- With a volume of 93,515, the price of ORLY is down -3.14% at $901.27.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 6 days.
What The Experts Say On O'Reilly Automotive:
- JP Morgan has decided to maintain their Overweight rating on O'Reilly Automotive, which currently sits at a price target of $1030.
- Citigroup upgraded its action to Buy with a price target of $1040
- Citigroup upgraded its action to Buy with a price target of $1040
- TD Cowen downgraded its action to Outperform with a price target of $1100
- Oppenheimer downgraded its action to Perform with a price target of $930
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 O'Reilly Automotive, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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