Investors with a lot of money to spend have taken a bearish stance on Planet Fitness PLNT.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with PLNT, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 9 uncommon options trades for Planet Fitness.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $172,627, and 4 are calls, for a total amount of $175,807.
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Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $72.5 to $77.5 for Planet Fitness over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Planet Fitness stands at 1790.0, with a total volume reaching 2,552.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Planet Fitness, situated within the strike price corridor from $72.5 to $77.5, throughout the last 30 days.
Planet Fitness Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PLNT | CALL | SWEEP | BEARISH | 01/19/24 | $72.50 | $75.1K | 3.5K | 393 |
| PLNT | PUT | TRADE | BULLISH | 05/17/24 | $77.50 | $52.5K | 72 | 224 |
| PLNT | CALL | SWEEP | NEUTRAL | 01/19/24 | $72.50 | $43.7K | 3.5K | 730 |
| PLNT | PUT | TRADE | BULLISH | 05/17/24 | $77.50 | $33.2K | 72 | 144 |
| PLNT | CALL | TRADE | BULLISH | 01/19/24 | $72.50 | $31.8K | 3.5K | 120 |
About Planet Fitness
Planet Fitness Inc is a franchisor and operator of fitness centers in the United States. The company's reportable segments are Franchise, Corporate-owned stores, and Equipment. Franchise segment includes operations related to its franchising business in the United States, Puerto Rico, Canada, Panama, Mexico and Australia, Corporate-owned stores segment includes operations with respect to all corporate-owned stores throughout the United States and Canada, and The Equipment segment includes the sale of equipment to franchisee-owned stores in the U.S. The firm generates a majority of its revenue from the Corporate-owned stores segment.
In light of the recent options history for Planet Fitness, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Planet Fitness Standing Right Now?
- Trading volume stands at 272,072, with PLNT's price down by 0.0%, positioned at $72.61.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 45 days.
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 Planet Fitness, Benzinga Pro gives you real-time options trades alerts.
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