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Check Out What Whales Are Doing With OPEN

Someone with a lot of money to spend has taken a bearish stance on Opendoor Technologies OPEN.

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 OPEN, it often means somebody knows something is about to happen.

Today, Benzinga’s options scanner spotted 19 options trades for Opendoor Technologies.

This isn’t normal.

The overall sentiment of these big-money traders is split between 26% bullish and 73%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $27,020, and 18, calls, for a total amount of $941,493..

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 $3.0 to $25.0 for Opendoor Technologies over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Opendoor Technologies’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 Opendoor Technologies’s whale activity within a strike price range from $3.0 to $25.0 in the last 30 days.

Opendoor Technologies 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
OPEN CALL TRADE BULLISH 01/19/24 $3.00 $108.0K 8.2K 767
OPEN CALL SWEEP BULLISH 01/19/24 $8.00 $74.8K 6.0K 514
OPEN CALL SWEEP BULLISH 09/16/22 $5.00 $73.0K 1.6K 3.2K
OPEN CALL SWEEP BEARISH 08/12/22 $5.00 $72.6K 1.1K 8.5K
OPEN CALL SWEEP BEARISH 08/19/22 $7.00 $64.1K 7.9K 6.9K
Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
OPEN CALL TRADE BULLISH 01/19/24 $3.00 $108.0K 8.2K 767
OPEN CALL SWEEP BULLISH 01/19/24 $8.00 $74.8K 6.0K 514
OPEN CALL SWEEP BULLISH 09/16/22 $5.00 $73.0K 1.6K 3.2K
OPEN CALL SWEEP BEARISH 08/12/22 $5.00 $72.6K 1.1K 8.5K
OPEN CALL SWEEP BEARISH 08/19/22 $7.00 $64.1K 7.9K 6.9K

Where Is Opendoor Technologies Standing Right Now?

  • With a volume of 50,344,389, the price of OPEN is up 22.23% at $5.75.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 96 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 Opendoor Technologies, Benzinga Pro gives you real-time options trades alerts.

This post was originally published on this site

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