Someone with a lot of money to spend has taken a bearish stance on Match Group (NASDAQ:MTCH).
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 MTCH, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Match Group.
This isn't normal.
The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $109,719, and 10, calls, for a total amount of $413,636..
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 $100.0 to $119.0 for Match Group over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Match Group options trades today is 144.89 with a total volume of 740.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Match Group's big money trades within a strike price range of $100.0 to $119.0 over the last 30 days.
Match Group 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 |
|---|---|---|---|---|---|---|---|---|
| MTCH | PUT | SWEEP | BEARISH | 01/19/24 | $110.00 | $109.7K | 0 | 66 |
| MTCH | CALL | SWEEP | BULLISH | 02/04/22 | $107.00 | $72.0K | 290 | 171 |
| MTCH | CALL | TRADE | BULLISH | 07/15/22 | $100.00 | $52.5K | 153 | 39 |
| MTCH | CALL | SWEEP | BEARISH | 02/04/22 | $119.00 | $45.3K | 194 | 236 |
| MTCH | CALL | TRADE | BEARISH | 09/16/22 | $100.00 | $41.2K | 20 | 26 |
Where Is Match Group Standing Right Now?
- With a volume of 1,678,165, the price of MTCH is up 5.16% at $117.88.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 90 days.
What The Experts Say On Match Group:
- Piper Sandler downgraded its action to Overweight with a price target of $160
- Wolfe Research downgraded its action to Outperform with a price target of $163
- Morgan Stanley has decided to maintain their Overweight rating on Match Group, which currently sits at a price target of $177.
- Keybanc has decided to maintain their Overweight rating on Match Group, which currently sits at a price target of $155.
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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
