Someone with a lot of money to spend has taken a bearish stance on SentinelOne (NYSE:S).
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 S, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 16 options trades for SentinelOne.
This isn't normal.
The overall sentiment of these big-money traders is split between 31% bullish and 68%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $41,610, and 15, calls, for a total amount of $1,605,127..
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 $65.0 for SentinelOne 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 SentinelOne'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 SentinelOne's whale activity within a strike price range from $30.0 to $65.0 in the last 30 days.
SentinelOne 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 |
|---|---|---|---|---|---|---|---|---|
| S | CALL | TRADE | BEARISH | 01/20/23 | $65.00 | $481.8K | 470 | 1.4K |
| S | CALL | TRADE | BEARISH | 04/14/22 | $40.00 | $282.7K | 2.5K | 1.9K |
| S | CALL | SWEEP | BEARISH | 03/18/22 | $35.00 | $175.8K | 9.5K | 2.8K |
| S | CALL | SWEEP | BEARISH | 03/18/22 | $35.00 | $159.3K | 9.5K | 3.5K |
| S | CALL | SWEEP | BEARISH | 03/18/22 | $30.00 | $112.9K | 2.2K | 924 |
Where Is SentinelOne Standing Right Now?
- With a volume of 10,643,335, the price of S is up 9.06% at $33.69.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 58 days.
What The Experts Say On SentinelOne:
- UBS has decided to maintain their Buy rating on SentinelOne, which currently sits at a price target of $56.
- Cowen & Co. has decided to maintain their Outperform rating on SentinelOne, which currently sits at a price target of $65.
- BTIG has decided to maintain their Buy rating on SentinelOne, which currently sits at a price target of $48.
- DA Davidson downgraded its action to Buy with a price target of $57
- Deutsche Bank has decided to maintain their Buy rating on SentinelOne, which currently sits at 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.
