A whale with a lot of money to spend has taken a noticeably bearish stance on Applied Materials.
Looking at options history for Applied Materials (NASDAQ:AMAT) we detected 13 strange trades.
If we consider the specifics of each trade, it is accurate to state that 15% of the investors opened trades with bullish expectations and 84% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $250,659 and 6, calls, for a total amount of $854,875.
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 $76.0 to $92.5 for Applied Materials over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Applied Materials options trades today is 730.0 with a total volume of 1,408.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Applied Materials's big money trades within a strike price range of $76.0 to $92.5 over the last 30 days.
Applied Materials 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 |
|---|---|---|---|---|---|---|---|---|
| AMAT | CALL | SWEEP | BEARISH | 12/16/22 | $87.50 | $376.7K | 635 | 163 |
| AMAT | CALL | TRADE | BEARISH | 01/20/23 | $87.50 | $243.9K | 489 | 310 |
| AMAT | CALL | TRADE | BEARISH | 12/16/22 | $87.50 | $105.3K | 635 | 163 |
| AMAT | CALL | TRADE | NEUTRAL | 12/16/22 | $85.00 | $51.9K | 559 | 64 |
| AMAT | PUT | SWEEP | BEARISH | 12/16/22 | $85.00 | $47.0K | 562 | 103 |
Where Is Applied Materials Standing Right Now?
- With a volume of 889,207, the price of AMAT is up 1.36% at $87.72.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 20 days.
What The Experts Say On Applied Materials:
- Berenberg has decided to maintain their Buy rating on Applied Materials, which currently sits at a price target of $120.
- Wells Fargo has decided to maintain their Overweight rating on Applied Materials, which currently sits at a price target of $100.
- Morgan Stanley has decided to maintain their Equal-Weight rating on Applied Materials, which currently sits at a price target of $99.
- B of A Securities has decided to maintain their Buy rating on Applied Materials, which currently sits at a price target of $102.
- Deutsche Bank has decided to maintain their Buy rating on Applied Materials, which currently sits at a price target of $95.
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 Applied Materials, Benzinga Pro gives you real-time options trades alerts.
