Someone with a lot of money to spend has taken a bearish stance on Enphase Energy (NASDAQ:ENPH).
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 ENPH, 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 26 uncommon options trades for Enphase Energy.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 69%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $674,326, and 18 are calls, for a total amount of $2,438,031.
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 $170.0 to $440.0 for Enphase Energy 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 Enphase Energy'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 Enphase Energy's whale activity within a strike price range from $170.0 to $440.0 in the last 30 days.
Enphase Energy 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 |
|---|---|---|---|---|---|---|---|---|
| ENPH | CALL | SWEEP | NEUTRAL | 08/19/22 | $170.00 | $1.0M | 617 | 180 |
| ENPH | CALL | TRADE | BULLISH | 01/19/24 | $420.00 | $517.5K | 13 | 100 |
| ENPH | PUT | TRADE | BEARISH | 08/26/22 | $297.50 | $193.6K | 3 | 165 |
| ENPH | PUT | SWEEP | BEARISH | 01/20/23 | $200.00 | $178.5K | 1.8K | 150 |
| ENPH | CALL | SWEEP | NEUTRAL | 08/19/22 | $280.00 | $159.6K | 1.4K | 191 |
Where Is Enphase Energy Standing Right Now?
- With a volume of 2,129,318, the price of ENPH is up 2.09% at $299.03.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 74 days.
What The Experts Say On Enphase Energy:
- Goldman Sachs has decided to maintain their Buy rating on Enphase Energy, which currently sits at a price target of $290.
- JP Morgan has decided to maintain their Overweight rating on Enphase Energy, which currently sits at a price target of $321.
- Piper Sandler has decided to maintain their Overweight rating on Enphase Energy, which currently sits at a price target of $265.
- Wells Fargo has decided to maintain their Overweight rating on Enphase Energy, which currently sits at a price target of $313.
- Barclays downgraded its action to Equal-Weight with a price target of $292
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 Enphase Energy, Benzinga Pro gives you real-time options trades alerts.
