A whale with a lot of money to spend has taken a noticeably bearish stance on Dow.
Looking at options history for Dow (NYSE:DOW) we detected 12 strange trades.
If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 75% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $214,859 and 6, calls, for a total amount of $199,007.
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 $30.0 to $57.5 for Dow 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 Dow'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 Dow's whale activity within a strike price range from $30.0 to $57.5 in the last 30 days.
Dow 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 |
|---|---|---|---|---|---|---|---|---|
| DOW | PUT | SWEEP | BEARISH | 06/16/23 | $32.50 | $51.7K | 36 | 1.8K |
| DOW | PUT | SWEEP | BEARISH | 06/16/23 | $30.00 | $44.1K | 34 | 350 |
| DOW | CALL | SWEEP | BULLISH | 07/15/22 | $56.00 | $42.2K | 7.8K | 2.4K |
| DOW | CALL | SWEEP | BULLISH | 07/15/22 | $52.50 | $39.7K | 1.0K | 906 |
| DOW | PUT | SWEEP | BEARISH | 06/16/23 | $32.50 | $32.5K | 36 | 1.1K |
Where Is Dow Standing Right Now?
- With a volume of 4,545,198, the price of DOW is up 4.17% at $53.19.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 27 days.
What The Experts Say On Dow:
- Citigroup downgraded its action to Neutral with a price target of $60
- Credit Suisse downgraded its action to Underperform with a price target of $49
- JP Morgan has decided to maintain their Overweight rating on Dow, which currently sits at a price target of $70.
- Jefferies has decided to maintain their Buy rating on Dow, which currently sits at a price target of $74.
- B of A Securities has decided to maintain their Underperform rating on Dow, which currently sits at a price target of $60.
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 Dow, Benzinga Pro gives you real-time options trades alerts.
