Someone with a lot of money to spend has taken a bearish stance on EQT (NYSE:EQT).
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 EQT, it often means somebody knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga's options scanner spotted 24 uncommon options trades for EQT.
This isn't normal.
The overall sentiment of these big-money traders is split between 29% bullish and 70%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $851,395, and 17 are calls, for a total amount of $3,164,743.
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 $50.0 for EQT over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for EQT options trades today is 7051.75 with a total volume of 12,163.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for EQT's big money trades within a strike price range of $30.0 to $50.0 over the last 30 days.
EQT 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 |
|---|---|---|---|---|---|---|---|---|
| EQT | CALL | SWEEP | BULLISH | 09/16/22 | $39.00 | $1.2M | 131 | 1.3K |
| EQT | CALL | SWEEP | BULLISH | 09/16/22 | $39.00 | $815.5K | 131 | 1.0K |
| EQT | PUT | SWEEP | BEARISH | 12/16/22 | $43.00 | $440.7K | 10 | 0 |
| EQT | CALL | SWEEP | NEUTRAL | 09/16/22 | $39.00 | $242.5K | 131 | 1.0K |
| EQT | CALL | SWEEP | NEUTRAL | 09/16/22 | $30.00 | $191.4K | 1.1K | 0 |
Where Is EQT Standing Right Now?
- With a volume of 7,476,987, the price of EQT is up 6.31% at $41.94.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 85 days.
What The Experts Say On EQT:
- Credit Suisse has decided to maintain their Outperform rating on EQT, which currently sits at a price target of $41.
- Wells Fargo has decided to maintain their Overweight rating on EQT, which currently sits at a price target of $51.
- Tudor Pickering upgraded its action to Buy with a price target of $58
- Mizuho has decided to maintain their Buy rating on EQT, which currently sits at a price target of $64.
- Morgan Stanley has decided to maintain their Overweight rating on EQT, which currently sits at a price target of $47.
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 {d[company_name]}, Benzinga Progives you real-time options trades alerts.
