Anyone who has a lot of money to spend has taken a bearish stance enphase energy ENPH,
And retail traders should know.
We noticed this today when large positions appeared on publicly available options history that we track here at Benzinga.
Whether it is some institution or just a wealthy person, we do not know. But when something so big happens to an ENPH, it often means that someone knows something is about to happen.
So how do we know what this whale just did?
Today, benzingaK’s Options Scanner spotted 21 unusual options trades for Enphase Energy.
this is not normal.
The overall sentiment among these big money traders is split between 28% bullish and 71% bearish.
Of all the special options we have open, 9 are puts, for a total of $390,796, and 12 are calls, for a total of $1,087,985.
What is a price target?
Considering the volume and open interest on these contracts, it appears that whales are targeting a price range of $100.0 to $300.0 for Enphase Energy over the past 3 months.
Volume and Open Interest Development
A practical way to do due diligence on a stock is by looking at the volume and open interest.
This data can help you track the liquidity and interest for Enphase Energy’s options for a given strike price.
Below, we can see the evolution of call and put volumes and open interest, respectively, for all of Enphase Energy’s whale activity within the $100.0 to $300.0 strike price range over the past 30 days.
Enphase Energy Option Volume and Open Interest over the last 30 days
Largest options seen:
| Sign | put/call | business type | Rate | Exp. date | strike price | net trade value | open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ENPH | call | Business | recession | 04/21/23 | $230.00 | $500.5K | 726 | 807 |
| ENPH | call | sweep | recession | 04/21/23 | $220.00 | $145.3K | 1.0K | 300 |
| ENPH | Keep | Business | recession | 05/19/23 | $300.00 | $105.9K | 209 | 12 |
| ENPH | call | Business | fast | 04/21/23 | $210.00 | $98.0K | 642 | 228 |
| ENPH | call | Business | recession | 01/19/24 | $290.00 | $56.3K | 707 | 6 |
| Sign | put/call | business type | Rate | Exp. date | strike price | net trade value | open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ENPH | call | Business | recession | 04/21/23 | $230.00 | $500.5K | 726 | 807 |
| ENPH | call | sweep | recession | 04/21/23 | $220.00 | $145.3K | 1.0K | 300 |
| ENPH | Keep | Business | recession | 05/19/23 | $300.00 | $105.9K | 209 | 12 |
| ENPH | call | Business | fast | 04/21/23 | $210.00 | $98.0K | 642 | 228 |
| ENPH | call | Business | recession | 01/19/24 | $290.00 | $56.3K | 707 | 6 |
Where does Enphase Energy stand now?
- ENPH is up 1.15% to $212.65, with a volume of 2,550,152.
- The RSI indicator is indicating that the underlying stock may be overbought.
- The next earnings release is expected in 43 days.
What the experts say at Enphase Energy:
- Citigroup has decided to maintain its buy rating on Enphase Energy, currently with a price target of $285.
- Scotiabank downgraded its action to Sector Outperform with a $300 price target
- Janney Montgomery Scott upgraded its action to Buy with a price target of $282.
Options are a riskier asset than stock trading, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scalping 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 Enphase Energy, benzinga pro Provides you with real-time options trade alerts.