Someone with a lot of money to spend has taken a bullish stance on UiPath (NYSE:PATH).
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 PATH, 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 18 uncommon options trades for UiPath.
This isn't normal.
The overall sentiment of these big-money traders is split between 72% bullish and 27%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $344,873, and 12 are calls, for a total amount of $654,519.
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 $12.5 to $60.0 for UiPath over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for UiPath options trades today is 755.62 with a total volume of 10,661.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for UiPath's big money trades within a strike price range of $12.5 to $60.0 over the last 30 days.
UiPath 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 |
|---|---|---|---|---|---|---|---|---|
| PATH | PUT | TRADE | BULLISH | 04/14/22 | $30.00 | $173.9K | 6.0K | 952 |
| PATH | CALL | SWEEP | BULLISH | 01/20/23 | $40.00 | $105.7K | 1.1K | 1.0K |
| PATH | CALL | SWEEP | BULLISH | 01/19/24 | $20.00 | $79.9K | 50 | 221 |
| PATH | CALL | SWEEP | BULLISH | 01/20/23 | $25.00 | $78.6K | 363 | 374 |
| PATH | CALL | SWEEP | BEARISH | 01/19/24 | $50.00 | $72.8K | 769 | 1.7K |
Where Is UiPath Standing Right Now?
- With a volume of 37,012,256, the price of PATH is down -27.65% at $21.01.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 68 days.
What The Experts Say On UiPath:
- Wells Fargo has decided to maintain their Overweight rating on UiPath, which currently sits at a price target of $35.
- Canaccord Genuity has decided to maintain their Hold rating on UiPath, which currently sits at a price target of $30.
- Morgan Stanley has decided to maintain their Overweight rating on UiPath, which currently sits at a price target of $41.
- Credit Suisse has decided to maintain their Outperform rating on UiPath, which currently sits at a price target of $57.
- Mizuho has decided to maintain their Buy rating on UiPath, which currently sits at a price target of $40.
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.
