Someone with a lot of money to spend has taken a bearish stance on Tilray (NASDAQ:TLRY).
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 TLRY, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 15 options trades for Tilray.
This isn't normal.
The overall sentiment of these big-money traders is split between 20% bullish and 80%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $36,300, and 14, calls, for a total amount of $785,042..
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 $6.5 to $25.0 for Tilray over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Tilray options trades today is 7478.54 with a total volume of 52,326.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Tilray's big money trades within a strike price range of $6.5 to $25.0 over the last 30 days.
Tilray 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 |
|---|---|---|---|---|---|---|---|---|
| TLRY | CALL | TRADE | BEARISH | 04/14/22 | $8.00 | $250.0K | 7.7K | 13.8K |
| TLRY | CALL | SWEEP | BULLISH | 04/01/22 | $7.00 | $66.3K | 10.2K | 159 |
| TLRY | CALL | TRADE | BEARISH | 01/19/24 | $15.00 | $57.8K | 3.4K | 783 |
| TLRY | CALL | SWEEP | BULLISH | 04/01/22 | $7.50 | $56.9K | 9.5K | 8.2K |
| TLRY | CALL | SWEEP | BEARISH | 04/01/22 | $9.50 | $56.3K | 326 | 2.9K |
Where Is Tilray Standing Right Now?
- With a volume of 186,889,580, the price of TLRY is up 11.69% at $7.79.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 11 days.
What The Experts Say On Tilray:
- Canaccord Genuity upgraded its action to Buy with a price target of $9
- Piper Sandler has decided to maintain their Neutral rating on Tilray, which currently sits at a price target of $6.
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.
