Deep-pocketed investors have adopted a bearish approach towards Builders FirstSource BLDR, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in BLDR usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Builders FirstSource. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 75% bearish. Among these notable options, 2 are puts, totaling $130,750, and 10 are calls, amounting to $748,976.
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 $100.0 and $170.0 for Builders FirstSource, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Builders FirstSource stands at 213.1, with a total volume reaching 1,282.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Builders FirstSource, situated within the strike price corridor from $100.0 to $170.0, throughout the last 30 days.
Builders FirstSource 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BLDR | CALL | TRADE | BEARISH | 01/19/24 | $165.00 | $207.9K | 123 | 7 |
| BLDR | CALL | SWEEP | BEARISH | 03/15/24 | $150.00 | $123.6K | 110 | 0 |
| BLDR | CALL | SWEEP | BULLISH | 03/15/24 | $160.00 | $90.0K | 211 | 60 |
| BLDR | PUT | TRADE | BEARISH | 01/16/26 | $100.00 | $76.0K | 11 | 100 |
| BLDR | CALL | SWEEP | BEARISH | 01/19/24 | $170.00 | $66.0K | 141 | 317 |
About Builders FirstSource
Builders FirstSource Inc is a manufacturer and supplier of building materials. The company offers structural and related building products such as factory-built roof and floor trusses, wall panels and stairs, vinyl windows, custom millwork and trim, and engineered wood. The products can be designed for each home individually and are installed by Builders FirstSource. The company's construction-related services include professional installation, turn-key framing and shell construction. Builders FirstSource's customers range from large production builders to small custom homebuilders.
In light of the recent options history for Builders FirstSource, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Builders FirstSource Standing Right Now?
- With a volume of 1,712,519, the price of BLDR is up 2.87% at $159.32.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 75 days.
What The Experts Say On Builders FirstSource
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $168.0.
- An analyst from B of A Securities has revised its rating downward to Neutral, adjusting the price target to $143.
- An analyst from Barclays has decided to maintain their Overweight rating on Builders FirstSource, which currently sits at a price target of $195.
- In a cautious move, an analyst from Wedbush downgraded its rating to Outperform, setting a price target of $175.
- An analyst from BMO Capital has decided to maintain their Market Perform rating on Builders FirstSource, which currently sits at a price target of $150.
- Showing optimism, an analyst from B. Riley Securities upgrades its rating to Buy with a revised price target of $177.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Builders FirstSource with Benzinga Pro for real-time 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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