However, it was one trade from July 17 that really landed it on this week’s list. Tesla ( US:TSLA ) reported earnings last week, but Lucid Motors ( US:LCID ) is the one that showed up in the unusual options activity. All three sales were opening sales as opposed to a closing position and all three expired on July 21. Specifically, someone sold $6 million of the $113 puts, $1.26 million of the $115 puts and $14.7 million of the $120 puts. Also of note, all three trades took place at the same time. All three strikes were in-the-money, with shares trading near $106.50 at the time of the trade on July 20. So that brings us to Thursday’s action, where one trader was a big seller of the July $113, $115 and $120 puts. These in-the-money call sales may have looked bearish on the surface, but with a short-term expiry and an ex-dividend on the calendar, it was likely a dividend capture strategy at play. Merck ( US:MRK ) also had some bullish put sales take place on the afternoon of July 20, coming a week after some heavy call flow came through on the sell side. That’s either one heck of a coincidence or one heck of a big trade, with the total premium from this four-day put sale totaling more than $43 million. The $110 puts were also sold in notable size on each day, with $2.5 million sold on July 17, $2.64 million sold the next day, $8.15 million sold on July 19 and $2 million a day later. Then again on July 18, they sold $5.1 million of the same put, then $16.6 million worth on the 19th.Īnother $3.9 million worth of the July $111 puts were sold on the morning of July 21. Starting on July 17, one trader sold $2.8 million of the July $111 puts, which were in-the-money by about $10 a share as the stock was trading at $101 at the time of the trade. The trades appear to be opening trades, meaning they are bullish in nature. The reason Exxon leads this week’s list? A consistent short-term put seller. Sitting atop this week’s Options Flow Leaderboard is Exxon Mobil ( US:XOM ), which is also the largest U.S. With that in mind - and as earnings season picks up - let’s look at seven stocks with some heavy call flow over the last week. That’s even more surprising with the Nasdaq 100 index’s special rebalance in play, only its third special rebalance in history. So much so that only two cracked the top 10 - Microsoft ( US:MSFT ) and Amazon ( US:AMZN ). Notably, the options activity in mega-cap tech stocks has died off a bit. Thankfully, there’s a leaderboard of options activity for both calls and puts, helping us keep track of it all when we see outsized volume. We can follow their footsteps when looking for unusual options activity. If you want to stay updated on the latest options trades for Pinterest, Benzinga Pro gives you real-time options trades alerts.While many investors brush off options, many others like to “follow the flow.” In other words, they want to know what the big funds and institutions are doing. 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. Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Keybanc has decided to maintain their Overweight rating on Pinterest, which currently sits at a price target of $35.Credit Suisse has decided to maintain their Neutral rating on Pinterest, which currently sits at a price target of $31.Evercore ISI Group upgraded its action to Outperform with a price target of $41.Goldman Sachs has decided to maintain their Buy rating on Pinterest, which currently sits at a price target of $32.Next earnings are expected to be released in 4 days.RSI indicators hint that the underlying stock may be approaching overbought.
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