Whale alerts can serve as a crucial indicator for traders seeking lucrative trading opportunities. These ‘whales,’ or entities with substantial sums of money, make significant trades that often move the market. Benzinga’s options activity scanner tracks these massive transactions to help traders identify where the smart money is going. In today’s session, several noteworthy whale alerts have surfaced, especially in the consumer discretionary sector. This article elaborates on the top 10 consumer discretionary stocks with notable options activity observed today.
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Tesla Inc (NASDAQ: TSLA) started off the session with a significant call option sweep. Exhibiting bearish sentiment, this option has an expiration date of June 28, 2024, and a strike price of $185.00. Interestingly, parties traded a total of 200 contracts at a cost of $48.8K. Prior to today’s trading, there were 19,390 open contracts at this strike price, and today’s activity surged to 29,994 contracts. This divergence from normal trading volume indicates a strong bearish sentiment from the investors, who are anticipating a decline in TSLA’s stock price.
Amazon.com Inc. (NASDAQ: AMZN) has also seen interesting activity with a bearish call option trade. This particular option is set to expire today with a strike price of $175.00. A total of 250 contracts were traded at this strike, summing up to a received cost of $292.5K by the writing parties. With an open interest of 19,369 contracts at this strike prior to the session, today’s volume of 3,960 contracts highlights a substantial trading activity, suggesting that traders might be hedging against a potential decline in AMZN’s stock price.
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Groupon Inc. (NASDAQ: GRPN) is showing a bullish signal with a call option sweep expiring on August 16, 2024. The strike price for this option is $13.00, and 100 contracts were traded today with a total trade price of $28.3K. This trade had to be split into three different transactions to be filled. Notably, there were 113,000 open contracts at this strike before today’s session, indicating strong interest in this bullish bet.
Rite Aid Corporation (NYSE: RAD) has witnessed a bullish call option trade. The expiration date for this option is September 20, 2024, and it has a strike price of $250.00. A total of 474 contracts were open before today, and today’s trade activity saw 502 contracts change hands with a total trade price of $124.0K. The bullish sentiment surrounding Rite Aid suggests that investors are optimistic about its future performance.
GameStop Corp. (NYSE: GME) featured a neutral sentiment call option sweep. With an expiration date of July 19, 2024, and a strike price of $15.00, 2,000 contracts were open before today’s session, and today’s activity involved 353 contracts being traded for a total of $39.8K. Neutral sentiment trades can be indicative of hedging strategies or expectations of moderate price movements.
Advance Auto Parts Inc. (NYSE: AAP) saw bullish activity with a put option trade. Expiring on August 16, 2024, at a strike price of $65.00, this trade involved 319 contracts today, summing up to a total trade price of $31.3K, against 11,900 open contracts at this strike previously. This put option trade implies that investors are protecting profits or preparing for a potential decline.
McDonald’s Corporation (NYSE: MCD) had a bullish call option sweep. Set to expire on June 21, 2024, at a strike price of $252.50, 153 contracts were traded today, totalling $36.3K, against 531 open contracts previously. This activity reflects optimism about McDonald’s performance in the near term.
Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) observed bearish sentiment in a call option trade expiring on June 21, 2024, with a strike price of $16.00. The trade involved 129 contracts today, translating to a total trade price of $44.5K, which contrasts with 3,200 open contracts previously. This bearish sentiment implies concerns about Norwegian Cruise Line’s stock performance.
Wynn Resorts, Limited (NASDAQ: WYNN) experienced bullish activity in a call option trade set to expire on July 5, 2024, with a strike price of $88.00. Today’s trade involved 75 contracts for a total trade price of $31.1K, against 2,200 open contracts at this strike. The bullish sentiment reflects traders’ confidence in Wynn Resorts’ future performance.
Las Vegas Sands Corp. (NYSE: LVS) concluded the session with bullish sentiment in a put option trade. With an expiration date of June 20, 2025, and a strike price of $43.00, the trade involved 56 contracts today, totalling $34.4K, against 1,800 open contracts previously. This bullish put activity could indicate protective hedging or expectations for stability.
In conclusion, the observed whale alerts provide valuable insights into market sentiment and potential future movements for these consumer discretionary stocks. Traders can leverage this information to make informed decisions, identify potential opportunities, and manage risks effectively. Keeping an eye on such high-volume options trades can reveal trends and help anticipate significant market shifts.
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