Someone with a lot of money to spend has taken a bearish stance on Upstart Hldgs (NASDAQ:UPST).
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 UPST, 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 39 uncommon options trades for Upstart Hldgs.
This isn't normal.
The overall sentiment of these big-money traders is split between 38% bullish and 61%, bearish.
Out of all of the special options we uncovered, 26 are puts, for a total amount of $2,666,141, and 13 are calls, for a total amount of $491,190.
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 $20.0 to $360.0 for Upstart Hldgs 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 Upstart Hldgs'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 Upstart Hldgs's whale activity within a strike price range from $20.0 to $360.0 in the last 30 days.
Upstart Hldgs 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 |
|---|---|---|---|---|---|---|---|---|
| UPST | PUT | TRADE | BULLISH | 08/19/22 | $45.00 | $941.2K | 0 | 592 |
| UPST | PUT | TRADE | BULLISH | 06/17/22 | $185.00 | $223.2K | 73 | 15 |
| UPST | PUT | TRADE | NEUTRAL | 01/20/23 | $100.00 | $203.7K | 1.1K | 2 |
| UPST | PUT | TRADE | NEUTRAL | 05/13/22 | $80.00 | $180.3K | 302 | 84 |
| UPST | PUT | TRADE | NEUTRAL | 01/20/23 | $270.00 | $118.1K | 62 | 5 |
Where Is Upstart Hldgs Standing Right Now?
- With a volume of 14,693,812, the price of UPST is up 15.92% at $38.0.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 88 days.
What The Experts Say On Upstart Hldgs:
- Barclays downgraded its action to Equal-Weight with a price target of $35
- Piper Sandler downgraded its action to Neutral with a price target of $44
- Wedbush has decided to maintain their Underperform rating on Upstart Hldgs, which currently sits at a price target of $35.
- Citigroup has decided to maintain their Buy rating on Upstart Hldgs, which currently sits at a price target of $180.
- Barclays downgraded its action to Equal-Weight with a price target of $35
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.
