American Century ETF Trust Avantis U.S. Large Cap Equity ETF (ARCA: AVLC)

Latest News for American Century ETF Trust Avantis U.S. Large Cap Equity ETF (ARCA:AVLC)

American Century ETF Trust Avantis U.S. Large Cap Equity ETF

Vertical Research analyst Jeffrey Sprague upgrades 3M (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) from Hold to Buy and raises the price target from $92 to $140.

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Analyst Ratings

Vertical Research Upgrades 3M to Buy, Raises Price Target to $140

The housing market has seen highs and lows since 2020. <a href="https://www.resiclubanalytics.com/p/10-strongestand-10-weakesthousing-markets-spring-7ebe">According</a> to Lance Lambert of ResiClub Analytics, these are the markets that are surging and the markets that are showing signs of fading in<a href="https://www.benzinga.com/real-estate/24/05/38819038/redfin-ceo-says-housing-market-has-hit-rock-bottom-as-interest-rates-soar"> today&#8217;s housing market</a>.
The 10 Strongest Markets: 
<ul>
<li>San Jose, California saw the strongest month-over-month appreciation in the U.S., with homes appreciating by 2.94%. </li>
<li>Bay Area neighbor San Francisco was the third-best market, good for a 2.41% price rise. This comes during Silicon Valley&#8217;s <a href="https://www.benzinga.com/news/24/05/38737635/french-ai-startup-founded-by-former-google-and-meta-researchers-is-up-to-challenge-silicon-valley-do">AI boom</a>.</li>
</ul>
The rest of the top ten markets are centered in the Midwest or East Coast with a tendency to have a history in manufacturing: 
<ul>
<li>Rochester, NY was the second-strongest, where homes appreciated by 2.48% </li>
<li>Scranton, PA was the fourth-strongest, where homes appreciated by 2.37% </li>
<li>Green Bay, WI was the fifth-strongest, where homes appreciated by 2.37% </li>
<li>Syracuse, NY was the sixth-strongest where homes appreciated by 2.26%</li>
<li>Youngstown, OH was the seventh-strongest where homes appreciated by 2.24%</li>
<li>Champaign, IL was the eighth-strongest, where homes appreciated by 2.18%</li>
<li>Saginaw, MI was the ninth-strongest where homes appreciated by 2.14%</li>
<li>Rockford, IL was the 10th-strongest where homes appreciated by 2.13%</li>
</ul>
Also Read: <a href="https://www.benzinga.com/markets/asia/24/05/38880380/dow-jones-hits-40-000-chinese-tech-stocks-jump-to-15-month-highs-bloodbath-on-meme-stocks-whats-driv">Dow Jones Hits 40,000, Chinese Tech Stocks Jump To 15-Month Highs, Bloodbath On Meme Stocks: What&#8217;s Driving Markets Thursday?</a>
The 10 Weakest Markets: The 10 weakest markets have one shared characteristic: location. All ten are located in Florida. Florida has seen a large <a href="https://www.resiclubanalytics.com/p/housing-market-sees-30-increase-active-inventory-yet-still-35-prepandemic">increase</a> in housing inventory in the past year.
The market that saw the weakest month-over-month appreciation was Punta Gorda, FL, where home prices depreciated, dropping by 0.05%. 
The remaining markets are as follows: 
<ul>
<li>Panama City, FL where homes appreciated by 0.04%</li>
<li>North Port, FL where homes appreciated by 0.05%</li>
<li>Cape Coral, FL where homes appreciated by 0.07%</li>
<li>Naples, FL where homes appreciated by 0.09%</li>
<li>Port St. Lucie, FL where prices appreciated by 0.31%</li>
<li>Crestview, FL where prices appreciated by 0.38%</li>
<li>Ocala, FL where prices appreciated by 0.39%</li>
<li>Lakeland, FL where prices appreciated by 0.44%</li>
<li>Deltona, FL where prices appreciated by 0.51%.</li>
</ul>
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37973448/more-than-a-third-of-gen-z-millennials-lean-on-family-support-for-home-purchases-ma">More Than A Third Of Gen Z, Millennials Lean On Family Support For Home Purchases: &#8216;Many Get Help From Mom And Dad,&#8217; Reveals Redfin</a>
Image: Pixabay

Real Estate

Top Housing Markets In Spring 2024: Find Out If Yours Made The Cut

The Trade Desk Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) is experiencing a surge in its shares Thursday afternoon following a significant development in the advertising technology landscape. The catalyst behind the move appears to be the recent announcement made by Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) regarding its plans to launch an in-house advertising technology platform <a href="https://www.benzinga.com/news/24/05/38858702/netflix-says-in-house-ad-tech-coming-the-trade-desk-and-magnite-shares-climb">by the end of 2025</a>.
What To Know: The groundbreaking move by Netflix, announced Wednesday, signals a shift in the advertising ecosystem, with implications for companies operating in the digital advertising space. By launching its own ad tech platform, Netflix aims to provide advertisers with new ways to buy, leverage insights and measure impact, thereby enhancing the effectiveness of advertising campaigns on its platform.
Netflix announced plans to expand its buying capabilities to include The Trade Desk, Google&#8217;s Display &amp; Video 360 and Magnite this summer. The trio will join Microsoft as the main programmatic partners for advertisers.
Netflix&#8217;s decision to expand its buying capabilities to include The Trade Desk, among other programmatic partners, underscores the growing importance of companies like The Trade Desk in the digital advertising ecosystem. As one of the main programmatic partners for advertisers on Netflix, The Trade Desk stands to benefit from increased demand for its advertising solutions.
"There's a lot to be excited about over the next year. But the story of ads on Netflix this year is pretty simple: It's about growth and momentum,&#8221; said Peter Naylor, vice president of advertising sales at Netflix.
Analysts Reactions: Analysts at Truist Securities, Susquehanna and Loop Capital remained bullish on The Trade Desk following the announcement from Netflix. 
Truist Securities&#8217; Youssef Squali maintained a Buy rating with a price target of $105, while Susquehanna&#8217;s Shyam Patil retained a Positive rating with a price target of $110. Loop Capital&#8217;s Rob Sanderson echoed this sentiment, upping the price target to $109 from $102, affirming the company&#8217;s resilience and growth potential in the face of evolving industry dynamics.
Overall, the announcement from Netflix represents a significant opportunity for The Trade Desk to expand its reach and solidify its position in the digital advertising market. 
See Also: <a href="https://www.benzinga.com/trading-ideas/24/05/38879909/bill-gates-sells-microsoft-berkshire-hathaway-shares-in-q1-are-these-still-top-positions">Bill Gates Sells Microsoft, Berkshire Hathaway Shares In Q1: Are These Still Top Positions?</a>
TTD Price Action: The Trade Desk Shares are up by 3.44% at $93.46 Thursday afternoon according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="528" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16141805/TTD-1024x528.png" alt="" class="wp-image-342136" style="width:462px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16141805/TTD-1024x528.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16141805/TTD-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16141805/TTD-768x396.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16141805/TTD.png 1221w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Image: Courtesy of The Trade Desk, Inc.

Movers

NFLX

Netflix Is Boosting The Trade Desk Stock Thursday: Here's What You Need To Know

High-rolling investors have positioned themselves bullish on NEXTracker (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXT#NASDAQ">NXT</a>), and it's important for retail traders to take note. 
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in NXT often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for NEXTracker. This is not a typical pattern.
The sentiment among these major traders is split, with 50% bullish and 25% bearish. Among all the options we identified, there was one put, amounting to $74,949, and 7 calls, totaling $488,860.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $50.0 for NEXTracker during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
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 NEXTracker'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 NEXTracker's whale trades within a strike price range from $40.0 to $50.0 in the last 30 days. 
<h3>NEXTracker Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715885283_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NXT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$2.95</td>
<td>$2.55</td>
<td>$2.6</td>
<td>$45.00</td>
<td>$167.9K</td>
<td>1.4K</td>
<td>734</td>
</tr>
<tr>
<td>NXT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$6.1</td>
<td>$5.8</td>
<td>$5.9</td>
<td>$40.00</td>
<td>$147.5K</td>
<td>281</td>
<td>294</td>
</tr>
<tr>
<td>NXT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$3.2</td>
<td>$3.0</td>
<td>$3.0</td>
<td>$45.00</td>
<td>$74.9K</td>
<td>353</td>
<td>653</td>
</tr>
<tr>
<td>NXT</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$5.1</td>
<td>$4.9</td>
<td>$5.0</td>
<td>$40.00</td>
<td>$50.0K</td>
<td>281</td>
<td>414</td>
</tr>
<tr>
<td>NXT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$2.0</td>
<td>$1.95</td>
<td>$2.0</td>
<td>$45.00</td>
<td>$36.0K</td>
<td>1.4K</td>
<td>1.6K</td>
</tr>
</tbody>
</table>

<h3>About NEXTracker</h3>
Nextracker (and its subsidiaries) is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects around the world. Nextracker's products enable solar panels in utility-scale power plants to follow the sun's movement across the sky and optimize plant performance. Nextracker has operations in the United States, Mexico, Spain and other countries in Europe, India, Australia, the Middle East, Africa, and Brazil.
After a thorough review of the options trading surrounding NEXTracker, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>NEXTracker's Current Market Status</h3>
<ul>
<li>With a trading volume of 3,704,566, the price of NXT is down by -5.5%, reaching $43.45.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 69 days from now.</li>
</ul>
<h3>What Analysts Are Saying About NEXTracker</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $59.0.
<ul>
<li>Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Outperform rating for NEXTracker, targeting a price of $50. </li>
<li>Consistent in their evaluation, an analyst from Mizuho keeps a Buy rating on NEXTracker with a target price of $59. </li>
<li>Maintaining their stance, an analyst from Guggenheim continues to hold a Buy rating for NEXTracker, targeting a price of $60. </li>
<li>An analyst from BMO Capital persists with their Market Perform rating on NEXTracker, maintaining a target price of $56. </li>
<li>In a cautious move, an analyst from Roth MKM downgraded its rating to Buy, setting a price target of $70. </li>
</ul>
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 NEXTracker, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Markets

Looking At NEXTracker's Recent Unusual Options Activity

Financial giants have made a conspicuous bullish move on Zscaler. Our analysis of options history for Zscaler (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>) revealed 10 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 30% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $235,309, and 6 were calls, valued at $300,179.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $150.0 to $200.0 for Zscaler during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Zscaler's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Zscaler's significant trades, within a strike price range of $150.0 to $200.0, over the past month.
<h3>Zscaler Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715885278_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ZS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$28.85</td>
<td>$28.65</td>
<td>$28.65</td>
<td>$185.00</td>
<td>$134.6K</td>
<td>599</td>
<td style="text-align: right;">55</td>
</tr>
<tr>
<td>ZS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$36.0</td>
<td>$35.35</td>
<td>$35.6</td>
<td>$200.00</td>
<td>$74.7K</td>
<td>1.0K</td>
<td style="text-align: right;">8</td>
</tr>
<tr>
<td>ZS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$11.3</td>
<td>$10.95</td>
<td>$11.2</td>
<td>$150.00</td>
<td>$56.0K</td>
<td>89</td>
<td style="text-align: right;">50</td>
</tr>
<tr>
<td>ZS</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>05/17/24</td>
<td>$19.1</td>
<td>$18.45</td>
<td>$18.81</td>
<td>$200.00</td>
<td>$54.5K</td>
<td>173</td>
<td style="text-align: right;">30</td>
</tr>
<tr>
<td>ZS</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/24/24</td>
<td>$10.55</td>
<td>$9.8</td>
<td>$10.0</td>
<td>$190.00</td>
<td>$50.0K</td>
<td>27</td>
<td style="text-align: right;">50</td>
</tr>
</tbody>
</table>

<h3>About Zscaler</h3>
Zscaler is a software-as-a-service, or SaaS, firm focusing on providing cloud-native cybersecurity solutions to primarily enterprise customers. Zscaler's offerings can be broadly partitioned into Zscaler Internet Access, which provides secure access to external applications, and Zscaler Private Access, which provides secure access to internal applications. The firm is headquartered in San Jose, California, and went public in 2018.
In light of the recent options history for Zscaler, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of Zscaler</h3>
<ul>
<li>Trading volume stands at 855,445, with ZS's price down by -0.38%, positioned at $180.45.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 14 days.</li>
</ul>
<h3>What Analysts Are Saying About Zscaler</h3>
4 market experts have recently issued ratings for this stock, with a consensus target price of $235.0.
<ul>
<li>In a cautious move, an analyst from JMP Securities downgraded its rating to Market Outperform, setting a price target of $270. </li>
<li>Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $230.</li>
<li>Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Zscaler with a target price of $220. </li>
<li>An analyst from Keybanc upgraded its action to Overweight with a price target of $220. </li>
</ul>
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 Zscaler, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Decoding Zscaler's Options Activity: What's the Big Picture?

Financial giants have made a conspicuous bullish move on Estee Lauder Cos. Our analysis of options history for Estee Lauder Cos (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>) revealed 9 unusual trades.
Delving into the details, we found 55% of traders were bullish, while 44% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $281,491, and 3 were calls, valued at $274,555.
<h3>Expected Price Movements</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $135.0 and $160.0 for Estee Lauder Cos, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Estee Lauder Cos's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Estee Lauder Cos's significant trades, within a strike price range of $135.0 to $160.0, over the past month.
<h3>Estee Lauder Cos Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715885273_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>EL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$5.3</td>
<td>$5.2</td>
<td>$5.15</td>
<td>$160.00</td>
<td>$206.0K</td>
<td>239</td>
<td style="text-align: right;">401</td>
</tr>
<tr>
<td>EL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$4.8</td>
<td>$4.7</td>
<td>$4.8</td>
<td>$135.00</td>
<td>$108.5K</td>
<td>806</td>
<td style="text-align: right;">226</td>
</tr>
<tr>
<td>EL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$12.0</td>
<td>$11.7</td>
<td>$11.8</td>
<td>$140.00</td>
<td>$36.5K</td>
<td>581</td>
<td style="text-align: right;">57</td>
</tr>
<tr>
<td>EL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$2.95</td>
<td>$2.65</td>
<td>$2.65</td>
<td>$155.00</td>
<td>$35.7K</td>
<td>1.3K</td>
<td style="text-align: right;">135</td>
</tr>
<tr>
<td>EL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$12.1</td>
<td>$11.8</td>
<td>$11.8</td>
<td>$140.00</td>
<td>$35.4K</td>
<td>581</td>
<td style="text-align: right;">105</td>
</tr>
</tbody>
</table>

<h3>About Estee Lauder Cos</h3>
Estee Lauder is a leader in the global prestige beauty market, participating across skin care (52% of 2023 sales), makeup (28%), fragrance (16%), and hair care (4%) categories, with top-selling brands such as Estee Lauder, Clinique, M.A.C, La Mer, Jo Malone London, Aveda, Bobbi Brown, and Origins. The firm operates in more than 150 countries, generating 28% of revenue from the Americas, 39% from Europe, the Middle East and Africa (including travel retail), and 33% from Asia-Pacific. Estee Lauder sells its products through department stores, travel retail, specialty multibrand beauty stores, brand-dedicated freestanding stores, e-commerce, salons/spas, and perfumeries.
Following our analysis of the options activities associated with Estee Lauder Cos, we pivot to a closer look at the company's own performance.
<h3>Where Is Estee Lauder Cos Standing Right Now?</h3>
<ul>
<li>With a trading volume of 1,333,904, the price of EL is up by 1.99%, reaching $138.71.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 92 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for Estee Lauder Cos</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $148.0.
<ul>
<li>An analyst from Telsey Advisory Group persists with their Market Perform rating on Estee Lauder Cos, maintaining a target price of $155. </li>
<li>Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Estee Lauder Cos with a target price of $150. </li>
<li>An analyst from Telsey Advisory Group persists with their Market Perform rating on Estee Lauder Cos, maintaining a target price of $155. </li>
<li>An analyst from Barclays has decided to maintain their Equal-Weight rating on Estee Lauder Cos, which currently sits at a price target of $140. </li>
<li>An analyst from Morgan Stanley has revised its rating downward to Equal-Weight, adjusting the price target to $140. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Estee Lauder Cos options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Check Out What Whales Are Doing With Estee Lauder Cos

Jefferies analyst Omar Nokta maintains Global Ship Lease (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSL#NYSE">GSL</a>) with a Buy and raises the price target from $26 to $29.

Jefferies Maintains Buy on Global Ship Lease, Raises Price Target to $29

Editor&#8217;s note: This story has been updated with additional details.
CME Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>), the world&#8217;s largest futures exchange, is gearing up to introduce Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) trading, seizing the opportunity presented by the growing appetite for cryptocurrencies among <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38875939/morgan-stanley-declares-270m-investment-into-bitcoin-etfs-in-q1-leads-institutional-inflow">Wall Street&#8217;s money managers</a>.
What Happened: The Chicago-based CME has been engaging in discussions with traders interested in buying and selling bitcoin on a regulated platform, Financial Times <a href="https://www.ft.com/content/bfae5894-8fa7-4131-86ce-7f8614065985">reported</a> on Thursday, quoting three insiders familiar with the negotiations.
This initiative, though not yet finalized, signals a significant step by major Wall Street firms into the realm of digital assets. 
It follows the U.S. Securities and Exchange Commission's January approval of stock market funds that directly invest in bitcoin.
CME has not provided any comments on the matter.
Adding spot Bitcoin trading to CME&#8217;s offerings, which already include Bitcoin futures, would simplify the execution of basis trades for investors. 
Basis trading, a strategy popular among professional Bitcoin traders and commonly used in the U.S. Treasury market, involves borrowing money to sell futures while buying the underlying asset, profiting from the price differences. 
CME venues currently handle the majority of Treasury basis trades.
Bitcoin has garnered increasing support from some of the world&#8217;s largest financial institutions, who have shifted from skepticism to advocacy due to the cryptocurrency's significant recovery from its 2022 lows to record highs earlier this year. 
The digital asset's growing acceptance and regulatory crackdowns on illegal market activities have further bolstered its legitimacy as a tradeable asset.
Despite a 20% drop in value from its March peak of over $73,000, Bitcoin-related exchange-traded funds (ETFs) have emerged as the fastest-growing ETFs in history. 
Hedge funds like Bracebridge Capital and pension funds such as the Wisconsin Investment Board are among the major investors, pouring over $10 billion into Bitcoin-focused vehicles managed by firms including BlackRock (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NASDAQ">BLK</a>), Fidelity and Ark.
BlackRock CEO Larry Fink expressed his &#8220;long-term bullish&#8221; <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36610204/blackrock-ceo-larry-fink-im-a-big-believer-sees-value-in-having-ethereum-etfs">stance on Bitcoin in March.</a>
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38870019/spot-bitcoin-etfs-pocket-303m-net-inflows-on-wednesday-stars-seem-to-be-aligning-on-this-b">Spot Bitcoin ETFs Pocket $303M Net Inflows On Wednesday: &#8216;Stars Seem To Be Aligning On This Breakout,&#8217; Analytics Firm Writes</a>
Why It Matters: CME has benefited significantly from renewed institutional interest, surpassing Binance to become the world's leading bitcoin futures market. It currently hosts approximately 26,000 open positions worth around $8.5 billion, more than double the amount from a year ago.
The proposed spot trading service would be managed through the EBS currency trading venue in Switzerland, known for its stringent regulations on crypto asset trading and storage.
The track record of large traditional exchanges in trading spot cryptocurrencies has been mixed. 
While Deutsche Börse launched its digital assets market this year, CME&#8217;s rival, CBOE Global Markets, recently announced the closure of its spot market business due to unclear U.S. regulations. This highlights the competitive landscape and threats posed by names like Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and Robinhood (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), which are rapidly growing their crypto offerings, such as Robinhood expanding its product line in the <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38864022/robinhood-launches-its-first-crypto-staking-offering-for-solana-but-feature-limited-to-eur">European market</a>.
One crypto trading executive raised concerns about the potential inefficiencies of CME&#8217;s bitcoin trading business operating across two markets—CME in Chicago and EBS in Switzerland.
&#8220;I struggle to see how they would get all the efficiencies available to them,&#8221; he remarked. 
However, he acknowledged that CME&#8217;s move indicates growing comfort among large regulated exchanges with the infrastructure for trading digital assets, including the secure storage of coins.
This evolution in the crypto market infrastructure may soon enable exchanges to accept crypto-related collateral, such as tokenized money market funds, for more timely margin calls.
What&#8217;s Next: The developments in CME Group's bitcoin trading plans will be a key topic at Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
The event will explore the expanding role of institutional investments in digital assets and discuss the <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38875939/morgan-stanley-declares-270m-investment-into-bitcoin-etfs-in-q1-leads-institutional-inflow">future trajectory of the cryptocurrency market.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38853012/crypto-traders-as-socially-valuable-as-escorts-to-brits-study-finds">Crypto Traders As Socially Valuable As Escorts To Brits, Study Finds</a>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

COIN

HOOD

CME Group Eyes Bitcoin Trading Amid Surging Wall Street Demand (UPDATED)

WIIM

CSCO

Cisco shares are trading lower, reversing after rising late Wednesday on Q3 earnings.

DA Davidson analyst Linda Bolton Weiser maintains Prestige Consumer (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBH#NYSE">PBH</a>) with a Neutral and maintains $65 price target.

DA Davidson Maintains Neutral on Prestige Consumer, Maintains $65 Price Target

Betr CEO Joey Levy was among the standout speakers at the <a href="https://www.benzinga.com/events/sports-betting-gaming-esports-2024/">Sports Betting, Gaming &amp; Esports: A Deep Dive</a> virtual event.
Levy shared the company's innovative strategies in sports betting and media, emphasizing their focus on simplicity and engagement. He spoke on the achievements of Better Picks, a fantasy sports product that has quickly gained traction.
&#8220;Betr Picks is a skill-based fantasy sports product currently available in 24 states plus D.C. We plan on expanding that state footprint ahead of this upcoming NFL season,&#8221; Levy stated. Despite its recent launch, Betr Picks has already positioned itself among the top fantasy sports operators, competing with established names like Underdog and Prize Picks.
<h3 class="wp-block-heading">Dominating Media</h3>
Betr&#8217;s media approach sets it apart in the crowded sports betting market. Levy discussed the company's effective use of social media to enhance brand awareness and customer acquisition. 
&#8220;We&#8217;re generating dozens of original short-form videos daily that consistently go viral, resulting in unfair brand awareness and affinity,&#8221; he explained. 
This strategy has made Betr a leading sports gaming brand on platforms like TikTok, surpassing traditional sports media companies in reach and engagement.
<h3 class="wp-block-heading">New Sportsbook Platform</h3>
Levy also revealed details about Betr&#8217;s forthcoming sportsbook platform, set to launch ahead of the 2024 NFL season. &#8220;The new sports betting platform will offer a simpler and more intuitive product experience,&#8221; he noted. By addressing common user frustrations, Betr aims to make sports betting more accessible and enjoyable for casual fans.
<h3 class="wp-block-heading">Strategic Expansion</h3>
Betr&#8217;s expansion plans include a methodical approach to entering new markets. The beta sportsbook product is live in Ohio and Virginia, with plans to expand to Indiana, Colorado, Kentucky, Pennsylvania, and Maryland. &#8220;We aim to get to profitability on a state-by-state basis, ensuring we cover operating expenses and market access costs before expanding further,&#8221; Levy emphasized. This careful strategy is designed to ensure sustainable growth and profitability.
<h3 class="wp-block-heading">Leveraging Celebrity Influence</h3>
Levy also highlighted the impact of co-founder Jake Paul, particularly with his upcoming boxing match against Mike Tyson. &#8220;Every step Jake takes to elevate his cultural relevancy is great for Betr,&#8221; Levy said. The company plans to capitalize on this event to boost marketing efforts and create engaging content, further enhancing Betr&#8217;s visibility.
Looking ahead, Betr plans to launch a casino platform, expanding its offerings in the gaming industry. &#8220;We&#8217;ll have a pretty diverse revenue mix across the three gaming verticals over the next few years,&#8221; Levy stated. With continuous innovation and strategic growth, Betr aims to solidify its sports betting and gaming market position.
Photo: Linkedin/Benzinga

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Betr Picks Plans Multi-State Expansion 'Ahead Of Upcoming NFL Season,' CEO Says

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite falling around 0.1% on Thursday.
The Dow traded up 0.01% to 39,912.06 while the NASDAQ fell 0.10% to 16,726.17. The S&amp;P 500 also fell, dropping, 0.04% to 5,306.04.
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Leading and Lagging Sectors Consumer staples shares rose by 1.7% on Thursday.
In trading on Thursday, materials shares fell by 0.5%.
Top Headline
Deere &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) reported upbeat second-quarter earnings, but lowered its net income 2024 outlook.
The company's net sales and revenue declined 12% year-over-year to $15.235 billion, beating the consensus of $13.281 billion. EPS of $8.53, down from $9.65 YoY, beating the consensus of $7.87.
Deere lowered its 2024 net income outlook to $7.00 billion (prior $7.50 billion-$7.75 billion).
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>BM Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMTX#NASDAQ">BMTX</a>) shares shot up 41% to $2.4026 after the company reported better-than-expected first-quarter financial results.</li>
<li>Shares of AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) got a boost, surging 57% to $3.7486 after the company and AT&amp;T announced a definitive commercial agreement. The company also reported mixed first-quarter financial results.</li>
<li>TSR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSRI#NASDAQ">TSRI</a>) shares were also up, gaining 65% to $13.12 after the company announced that it entered into a definitive agreement to be acquired by Vienna Parent.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Eyenovia, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EYEN#NASDAQ">EYEN</a>) shares dropped 24% to $0.8101 after the company reported worse-than-expected first-quarter financial results.</li>
<li>Shares of Spire Global, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPIR#NYSE">SPIR</a>) were down 20% to $9.07 after the company reported mixed first-quarter financial results on Wednesday.</li>
<li>Omeros Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OMER#NASDAQ">OMER</a>) was down, falling 20% to $3.35 after the company announced a wider-than-expected quarterly loss.</li>
</ul>
Also Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38872349/over-1m-bet-on-this-healthcare-stock-check-out-these-3-stocks-insiders-are-buying">Over $1M Bet On This Healthcare Stock? Check Out These 3 Stocks Insiders Are Buying</a>
Commodities In commodity news, oil traded up 0.7% to $79.18 while gold traded down 0.4% at $2,386.30.
Silver traded up 0.6% to $29.91 on Thursday, while copper fell 1% to $4.8750.
Euro zone
European shares were lower today. The eurozone's STOXX 600 slipped 0.21%, Germany's DAX fell 0.69% and France's CAC 40 fell 0.63%. Spain's IBEX 35 Index fell 0.56%, while London's FTSE 100 fell 0.08%.
Italy reported a trade surplus of EUR 4.341 billion in March, versus a year-ago surplus of EUR 3.327 billion. The annual inflation rate in Italy slowed to 0.8% in April versus 1.2% a month ago.
Asia Pacific Markets
Asian markets closed higher on Thursday, with Japan's Nikkei gaining 1.39%, China's Composite Index climbing 1.59%, Hong Kong's Hang Seng Index gaining 0.08% and India's S&amp;P BSE Sensex gaining 0.7%.
Industrial production in Japan rose by 4.4% month-over-month in March following a 0.6% decline in the earlier month. Japan's economy shrank by 2.0% in the first quarter, versus market expectations for a 1.5% decline.
Economics
<ul>
<li>U.S. initial jobless claims declined by 10,000 to 222,000 in the week ending May 11, compared to market estimates of 220,000.</li>
<li>U.S. housing starts increased 5.7% month-over-month to an annualized rate of 1.36 million in April, while building permits declined by 3% to 1.440 million.</li>
<li>U.S. industrial production came in little changed in April, compared to a 0.1% gain in March.</li>
<li>Import prices increased 0.9% month-over-month in April, while export prices rose 0.5% in April.</li>
<li>The Philadelphia Fed Manufacturing Index fell 11 points to a reading of 4.5 in May versus a reading of 15.5 in April.</li>
<li>U.S. natural-gas supplies rose 70 billion cubic feet during the week ended May 10.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/05/38872018/top-5-utilities-stocks-you-may-want-to-dump-in-may">Top 5 Utilities Stocks You May Want To Dump In May</a>

Earnings

Eurozone

Commodities

Intraday Update

Trading Ideas

ASTS

BMTX

EYEN

OMER

SPIR

TSRI

Crude Oil Moves Higher; Deere Cuts Profit Outlook

Investors with a lot of money to spend have taken a bullish stance on Merck &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>).
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 MRK, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 11 uncommon options trades for Merck &amp; Co.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 45%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $194,659, and 8 are calls, for a total amount of $297,047.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $120.0 and $131.0 for Merck &amp; Co, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Merck &amp; Co's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Merck &amp; Co's significant trades, within a strike price range of $120.0 to $131.0, over the past month.
<h3>Merck &amp; Co Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715884592_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>MRK</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$0.61</td>
<td>$0.6</td>
<td>$0.6</td>
<td>$120.00</td>
<td>$133.5K</td>
<td>5.7K</td>
<td>2.6K</td>
</tr>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$3.2</td>
<td>$3.2</td>
<td>$3.2</td>
<td>$128.00</td>
<td>$64.0K</td>
<td>1.3K</td>
<td>216</td>
</tr>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/24/24</td>
<td>$11.25</td>
<td>$10.65</td>
<td>$11.25</td>
<td>$120.00</td>
<td>$42.7K</td>
<td>47</td>
<td>39</td>
</tr>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/28/24</td>
<td>$10.95</td>
<td>$10.15</td>
<td>$10.69</td>
<td>$121.00</td>
<td>$40.6K</td>
<td>0</td>
<td>38</td>
</tr>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$3.6</td>
<td>$3.55</td>
<td>$3.55</td>
<td>$130.00</td>
<td>$35.1K</td>
<td>19.7K</td>
<td>115</td>
</tr>
</tbody>
</table>

<h3>About Merck &amp; Co</h3>
Merck makes pharmaceutical products to treat several conditions in a number of therapeutic areas, including cardiometabolic disease, cancer, and infections. Within cancer, the firm's immuno-oncology platform is growing as a major contributor to overall sales. The company also has a substantial vaccine business, with treatments to prevent pediatric diseases as well as human papillomavirus, or HPV. Additionally, Merck sells animal health-related drugs. From a geographical perspective, just under half of the company's sales are generated in the United States.
After a thorough review of the options trading surrounding Merck &amp; Co, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Current Position of Merck &amp; Co</h3>
<ul>
<li>Trading volume stands at 2,602,441, with MRK's price down by -0.54%, positioned at $131.01.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 75 days.</li>
</ul>
<h3>What The Experts Say On Merck &amp; Co</h3>
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $139.0.
<ul>
<li>Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Merck &amp; Co with a target price of $143. </li>
<li>An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $135. </li>
</ul>
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 Merck &amp; Co, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Check Out What Whales Are Doing With MRK

Investors with a lot of money to spend have taken a bullish stance on Southern (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>).
And retail traders should know.
We noticed this today when the positions 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 SO, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Southern.
This isn't normal.
The overall sentiment of these big-money traders is split between 87% bullish and 12%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $31,680, and 7, calls, for a total amount of $273,113.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $82.5 for Southern, spanning the last three months.
<h3>Volume &amp; Open Interest Trends</h3>
In terms of liquidity and interest, the mean open interest for Southern options trades today is 1901.6 with a total volume of 1,983.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Southern's big money trades within a strike price range of $40.0 to $82.5 over the last 30 days.
<h3>Southern Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715884587_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/24/24</td>
<td>$8.8</td>
<td>$8.7</td>
<td>$8.8</td>
<td>$71.00</td>
<td>$60.7K</td>
<td>286</td>
<td style="text-align: right;">166</td>
</tr>
<tr>
<td>SO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$41.0</td>
<td>$38.3</td>
<td>$40.57</td>
<td>$40.00</td>
<td>$44.6K</td>
<td>41</td>
<td style="text-align: right;">18</td>
</tr>
<tr>
<td>SO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$1.65</td>
<td>$1.5</td>
<td>$1.5</td>
<td>$82.50</td>
<td>$37.2K</td>
<td>4.1K</td>
<td style="text-align: right;">253</td>
</tr>
<tr>
<td>SO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$4.8</td>
<td>$4.5</td>
<td>$4.8</td>
<td>$75.00</td>
<td>$35.0K</td>
<td>4.8K</td>
<td style="text-align: right;">692</td>
</tr>
<tr>
<td>SO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$4.9</td>
<td>$4.7</td>
<td>$4.9</td>
<td>$75.00</td>
<td>$33.8K</td>
<td>4.8K</td>
<td style="text-align: right;">185</td>
</tr>
</tbody>
</table>

<h3>About Southern</h3>
Southern is one of the largest utilities in the U.S. The company serves 9 million customers with vertically integrated electric utilities in three states and natural gas distribution utilities in four states. It owns 50 gigawatts of rate-regulated generating capacity, primarily for serving customers in Georgia, Alabama, and Mississippi. Subsidiary Southern Power owns 13 gigawatts of natural gas generation and renewable energy across the U.S. and sells the electricity primarily under long-term contracts.
In light of the recent options history for Southern, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of Southern</h3>
<ul>
<li>Currently trading with a volume of 1,919,082, the SO's price is up by 0.52%, now at $79.7. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 77 days.</li>
</ul>
<h3>What The Experts Say On Southern</h3>
4 market experts have recently issued ratings for this stock, with a consensus target price of $79.25.
<ul>
<li>Maintaining their stance, an analyst from B of A Securities continues to hold a Neutral rating for Southern, targeting a price of $73. </li>
<li>Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Southern with a target price of $77. </li>
<li>Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Outperform rating for Southern, targeting a price of $77. </li>
<li>An analyst from Argus Research has decided to maintain their Buy rating on Southern, which currently sits at a price target of $90. </li>
</ul>
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 Southern, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Looking At Southern's Recent Unusual Options Activity

Deep-pocketed investors have adopted a bearish approach towards Intuit (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>), 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 INTU usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Intuit. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 12% leaning bullish and 75% bearish. Among these notable options, 2 are puts, totaling $56,030, and 6 are calls, amounting to $291,835.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $470.0 to $800.0 for Intuit over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Intuit's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Intuit's substantial trades, within a strike price spectrum from $470.0 to $800.0 over the preceding 30 days.
<h3>Intuit Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715884582_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>INTU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$10.3</td>
<td>$9.9</td>
<td>$9.65</td>
<td>$700.00</td>
<td>$56.1K</td>
<td style="text-align: right;">445</td>
<td style="text-align: right;">274</td>
</tr>
<tr>
<td>INTU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$23.6</td>
<td>$23.3</td>
<td>$23.3</td>
<td>$660.00</td>
<td>$55.9K</td>
<td style="text-align: right;">348</td>
<td style="text-align: right;">25</td>
</tr>
<tr>
<td>INTU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$67.9</td>
<td>$66.5</td>
<td>$66.5</td>
<td>$660.00</td>
<td>$53.2K</td>
<td style="text-align: right;">76</td>
<td style="text-align: right;">8</td>
</tr>
<tr>
<td>INTU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$66.0</td>
<td>$64.1</td>
<td>$64.1</td>
<td>$800.00</td>
<td>$51.2K</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">13</td>
</tr>
<tr>
<td>INTU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>05/17/24</td>
<td>$7.2</td>
<td>$6.5</td>
<td>$6.43</td>
<td>$650.00</td>
<td>$38.2K</td>
<td style="text-align: right;">578</td>
<td style="text-align: right;">294</td>
</tr>
</tbody>
</table>

<h3>About Intuit</h3>
Intuit is a provider of small-business accounting software (QuickBooks), personal tax solutions (TurboTax), and professional tax offerings (Lacerte). Founded in the mid-1980s, Intuit controls the majority of U.S. market share for small-business accounting and do-it-yourself tax-filing software.
Following our analysis of the options activities associated with Intuit, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of Intuit</h3>
<ul>
<li>Trading volume stands at 448,202, with INTU's price down by -0.15%, positioned at $654.17.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 7 days.</li>
</ul>
<h3>Expert Opinions on Intuit</h3>
In the last month, 1 experts released ratings on this stock with an average target price of $740.0.
<ul>
<li>An analyst from Morgan Stanley has decided to maintain their Overweight rating on Intuit, which currently sits at a price target of $740. </li>
</ul>
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 Intuit with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

INTU

Intuit Unusual Options Activity For May 16

EF Hutton analyst Tim Moore maintains PEDEVCO (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/PED#AMEX">PED</a>) with a Buy and maintains $2.25 price target.

EF Hutton Maintains Buy on PEDEVCO, Maintains $2.25 Price Target

American billionaire hedge fund manager David Tepper is bullish on China. Tepper is the founder and president of Appaloosa Management, a <a href="https://www.benzinga.com/topic/david-tepper">global hedge fund</a>.
He is also the owner of the Carolina Panthers of the National Football League and Charlotte FC in Major League Soccer.
<h1 class="wp-block-heading">David Tepper Piling Into China, Trimming Off U.S. Tech</h1>
According to his fund&#8217;s latest 13F filing, Tepper loaded up on Alibaba Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) stock and trimmed stake in U.S. technology behemoths including Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), among other big names.
Also Read: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/02/37166808/david-teppers-appaloosa-management-q1-portfolio-positioning-more-caesers-entertainment-a">David Tepper&#8217;s Appaloosa Management Q1 Portfolio Positioning: More Caesers Entertainment, Alibaba, Amazon, Microsoft; Less Semiconductor Stocks</a>
<h1 class="wp-block-heading">Alibaba, FXI, PDD &#8230; Now Among Top Holdings</h1>
Alibaba, his fund&#8217;s fifth-largest holding until last quarter, is now his hedge fund&#8217;s number-one holding. The stock now commands 12.05% of the Appaloosa portfolio (up from the 5.82% earlier). Tepper first bought Alibaba stock for the Appaloosa fund, back in the second quarter of 2022. With the additional 6.9 million shares bought, Appaloosa owns 0.41% of the company.
Among Tepper&#8217;s other top buys in first quarter 2024 was the iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>). FXI is a new holding for the Appaloosa fund. With 6.375 million shares bought into the fund, FXI commands 2.27% of the portfolio. Another China-based top buy for the Appaloosa portfolio this quarter was PDD Holdings &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>). With 1.325 million shares bought in the first quarter of 2024, the stock now commands 3.61% of the Appaloosa portfolio.
Other stocks of China-based companies that are part of the fund include: Baidu Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) commanding 2.81% of the fund, JD.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), 1.48%; and the KraneShares CSI China Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KWEB#NYSE">KWEB</a>), 1.35%.
<h1 class="wp-block-heading">Top Sells Include Many Of The Magnificent Seven</h1>
While Tepper is going all bull on China, he trimmed his stake in U.S. technology giants. These include many of the <a href="https://www.benzinga.com/topic/magnificent-seven">Magnificent Seven</a> stocks:
His top sells in the first quarter of 2024 included:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Previous % Portfolio</td>
<td>Current % of Portfolio</td>
</tr>
<tr>
<td>Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td>11.31%</td>
<td>8.07%</td>
</tr>
<tr>
<td>Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td>
<td>11.04%</td>
<td>8.72%</td>
</tr>
<tr>
<td>Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)</td>
<td>3.99%</td>
<td>2.45%</td>
</tr>
<tr>
<td>Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td>
<td>10.36%</td>
<td>10.22%</td>
</tr>
<tr>
<td>Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td>
<td>6.76%</td>
<td>5.91%</td>
</tr>
<tr>
<td>Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)</td>
<td>5.60%</td>
<td>4.68%</td>
</tr>
</tbody>
</table>
</figure>
Data Source: 13F filing, Whalewisdom
Tepper added Adobe Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) and Oracle Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NASDAQ">ORCL</a>), which were among his top buys for the quarter.
The news has been driving China-based companies&#8217; stocks up. Alibaba stock was up 7% and iShares China Large-Cap ETF was up 2.5% by Noon ET, Thursday.
Read Next: <a href="https://www.benzinga.com/news/large-cap/23/06/32765747/hedge-funds-buck-trend-in-ai-investing-nvidia-not-their-first-choice">Hedge Funds Buck Trend In AI Investing, Nvidia Not Their First Choice</a>
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