A whale with a lot of money to spend has taken a noticeably bearish stance on Charter Communications.
Looking at options history for Charter Communications (NASDAQ:CHTR) we detected 13 strange trades.
If we consider the specifics of each trade, it is accurate to state that 38% of the investors opened trades with bullish expectations and 61% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $229,700 and 7, calls, for a total amount of $2,503,174.
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 $280.0 to $540.0 for Charter Communications over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Charter Communications options trades today is 125.62 with a total volume of 1,179.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Charter Communications's big money trades within a strike price range of $280.0 to $540.0 over the last 30 days.
Charter Communications 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 |
|---|---|---|---|---|---|---|---|---|
| CHTR | CALL | TRADE | NEUTRAL | 06/16/23 | $400.00 | $2.3M | 781 | 1.0K |
| CHTR | PUT | TRADE | BEARISH | 09/23/22 | $365.00 | $55.0K | 54 | 30 |
| CHTR | PUT | TRADE | BEARISH | 01/19/24 | $400.00 | $41.4K | 21 | 5 |
| CHTR | CALL | SWEEP | BULLISH | 03/17/23 | $330.00 | $39.6K | 81 | 26 |
| CHTR | PUT | TRADE | BULLISH | 06/16/23 | $540.00 | $39.0K | 12 | 2 |
Where Is Charter Communications Standing Right Now?
- With a volume of 798,811, the price of CHTR is down -5.39% at $333.99.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 36 days.
What The Experts Say On Charter Communications:
- Wells Fargo has decided to maintain their Underweight rating on Charter Communications, which currently sits at a price target of $370.
- Keybanc has decided to maintain their Overweight rating on Charter Communications, which currently sits at a price target of $592.
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 Charter Communications, Benzinga Pro gives you real-time options trades alerts.
