Hawaiian Electric Indus's Options: A Look at What the Big Money is Thinking

Investors with significant funds have taken a bullish position in Hawaiian Electric Indus HE, a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in HE usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 10 options transactions for Hawaiian Electric Indus. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 60% being bullish and 40% bearish. Of all the options we discovered, 9 are puts, valued at $546,015, and there was a single call, worth $31,284.

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What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $10.0 and $12.5 for Hawaiian Electric Indus, spanning the last three 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 Hawaiian Electric Indus'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 Hawaiian Electric Indus's whale trades within a strike price range from $10.0 to $12.5 in the last 30 days.

Hawaiian Electric Indus Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

About Hawaiian Electric Indus

Hawaiian Electric Industries is the parent company of three Hawaii-based regulated utilities and Hawaii's American Savings Bank. The utilities provide electricity on the five islands of Oahu, Hawaii, Maui, Molokai, and Lanai. Nearly 40% of electricity in its service territory comes from renewable energy; this portion is growing rapidly as the state has set a goal of 100% by 2045.

Present Market Standing of Hawaiian Electric Indus

• Currently trading with a volume of 7,693,911, the HE's price is down by -9.42%, now at $12.69.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 95 days.

What The Experts Say On Hawaiian Electric Indus

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $8.5.

• In a cautious move, an analyst from Wells Fargo downgraded its rating to Underweight, setting a price target of $8.

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 Hawaiian Electric Indus, Benzinga Pro gives you real-time options trades alerts.