Investors with large amounts of cash at their disposal are bullish on Seagate Tech Hldgs STX.
And retail traders should know.
We noticed this today when a trade appeared in the public options history we track here at Benzinga.
I don’t know if these are organizations or just wealthy individuals. But when something this big happens in STX, it often means someone knows something is about to happen.
So how do we know what these investors did?
Benzinga’s Options Scanner found 12 unusual options trades for Seagate Tech Holdings today.
This is not normal.
The overall sentiment among these large traders is split between 58% bullish and 41% bearish.
Of all the special options we uncovered, seven were puts totaling $512,124 and five were calls totaling $142,340.
What is the target price?
Based on trading activity, it appears that major investors are aiming for Seagate Tech Hldgs’ price to range between $85.0 and $118.0 over the last three months.
Insights into volume and open interest
From a liquidity and interest rate perspective, the average open interest for Seagate Tech Hldgs options trades today is 423.86 and total volume is 4,799.00.
The following graph allows you to track the volume and open interest of Seagate Tech Hldgs large call and put options within a strike price range of $85.0 to $118.0 over the past 30 days.
Seagate Tech Hldgs 30-day options volume and interest snapshot
Significant option trade detected:
Symbol PUT/CALL Trade Type Sentiment Index Date Ask/Bid Price Strike Price Total Trade Price Open Interest Volume STX PUT SWEEP Bearish 10/25/24 $3.2 $3.0 $3.2 $108.00 $176.0K 942 971 STX PUT SWEEP BULLISH 10/25/24 $4.5 $4.1 $4.0 $108.00 $110.0K 942 405 STX PUT Trade Bearish 10/25/24 $15.0 $14.6 $15.0 $118.00 $90.0K 68 1 STX Put Bearish 12/20/24 $7.6 $7.5 $7.6 $110.00 $47.1K 327 96 STX Put Bullish 11/15/24 $1.7 $1.65 $1. 65 $100.00 $32.8K 1.0K 575
About Seagate Tech Hldgs
Seagate is a leading supplier of hard drives for data storage in the enterprise and consumer markets. It forms a virtual duopoly in the market with its biggest rival, Western Digital. Both are vertically integrated.
Now that we’ve examined Seagate Tech Hldgs’ options trading patterns, it’s time to look directly at the company. This change allows us to take a closer look at our current market position and performance.
Current market position of Seagate Tech Hldgs
With a volume of 4,434,041, STX price is down -6.98% at $104.78. The RSI indicator suggests that the underlying stock may be approaching oversold status. The next financial results are expected to be announced within 91 days.
Expert opinions on Seagate Tech Hldgs
Five experts issued their ratings for this stock last month, with an average price target of $139.8.
Turn $1000 into $1270 in just 20 days?
A 20-year professional options trader shares his single-line charting technique to show you when to buy and sell. Copy his trades that averaged 27% profit every 20 days. Click here for access. *Rosenblatt analysts maintain their stance and continue to rate Seagate Tech Holdings stock a Buy with a $140 price target. *Citigroup analysts maintained a buy rating on Seagate Tech Holdings and kept the price target unchanged at $130. *Evercore ISI Group analysts have decided to maintain an Outperform rating on Seagate Tech Hldgs, and the price target is currently set at $135. – Reflecting concerns, Wedbush analysts lowered their rating to “outperform” and set a new price target of $150. *Northland Capital Markets analysts maintain an Outperform rating on Seagate Tech Holdings with a price target of $144, consistent with that assessment.
Options are a riskier asset than just trading stocks, but they offer higher profit potential. Serious options traders manage this risk by educating themselves every day, scaling their trades in and out, following multiple indicators, and closely monitoring the market.
If you want to stay up to date on the latest options trades for Seagate Tech Hldgs, Benzinga Pro provides real-time options trade alerts.
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