Someone with a lot of money to spend has taken a bearish stance on Veeva Sys (NYSE:VEEV).
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 VEEV, 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 31 uncommon options trades for Veeva Sys.
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, 19 are puts, for a total amount of $2,985,003, and 12 are calls, for a total amount of $1,256,414.
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 $185.0 to $240.0 for Veeva Sys over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Veeva Sys options trades today is 149.83 with a total volume of 17,689.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Veeva Sys's big money trades within a strike price range of $185.0 to $240.0 over the last 30 days.
Veeva Sys 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 |
|---|---|---|---|---|---|---|---|---|
| VEEV | PUT | TRADE | BULLISH | 01/20/23 | $185.00 | $841.3K | 36 | 1.3K |
| VEEV | PUT | SWEEP | BULLISH | 01/20/23 | $185.00 | $751.8K | 36 | 654 |
| VEEV | PUT | SWEEP | BEARISH | 01/20/23 | $185.00 | $300.5K | 36 | 771 |
| VEEV | CALL | SWEEP | BULLISH | 01/20/23 | $240.00 | $256.6K | 70 | 827 |
| VEEV | CALL | SWEEP | BEARISH | 01/20/23 | $240.00 | $230.4K | 70 | 827 |
Where Is Veeva Sys Standing Right Now?
- With a volume of 548,381, the price of VEEV is up 4.12% at $184.29.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 75 days.
What The Experts Say On Veeva Sys:
- Truist Securities has decided to maintain their Buy rating on Veeva Sys, which currently sits at a price target of $225.
- Canaccord Genuity has decided to maintain their Hold rating on Veeva Sys, which currently sits at a price target of $200.
- Barclays has decided to maintain their Equal-Weight rating on Veeva Sys, which currently sits at a price target of $195.
- JMP Securities has decided to maintain their Market Outperform rating on Veeva Sys, which currently sits at a price target of $240.
- Needham has decided to maintain their Buy rating on Veeva Sys, which currently sits at a price target of $205.
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 Veeva Sys, Benzinga Pro gives you real-time options trades alerts.
