Benzinga | Oct 25, 2021 02:51PM EDT

This Is What Whales Are Betting On Peloton Interactive

A whale with a lot of money to spend (and possibly insider knowledge) has taken a noticeably bearish stance on Peloton Interactive.

Looking at options history for Peloton Interactive(NASDAQ:PTON) we detected 19 strange trades.

If we consider the specifics of each trade, it is accurate to state that 42.11% of the investors opened trades with bullish expectations and 57.89% with bearish.

From the overall spotted trades, 11 are puts, for a total amount of $3,074,339 and 8, calls, for a total amount of $453,109.

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 $90.0 to $115.0 for Peloton Interactive over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Peloton Interactive's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Peloton Interactive's whale activity within a strike price range from $90.0 to $115.0 in the last 30 days.

Peloton Interactive Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestPTON PUT TRADE NEUTRAL 02/18/ $115.00 $2.4M 11 1.0K 22PTON PUT TRADE BEARISH 11/19/ $105.00 $116.5K 1.1K 601 21PTON PUT TRADE BULLISH 11/19/ $105.00 $113.0K 1.1K 501 21PTON CALL TRADE BULLISH 01/20/ $100.00 $82.0K 5.7K 101 23PTON PUT SWEEP BULLISH 01/20/ $100.00 $76.1K 1.7K 32 23

Where Is Peloton Interactive Standing Right Now?

* With a volume of 2,294,721, the price of PTON is up 3.07% at $96.71.

* RSI indicators hint that the underlying stock may be approaching overbought.

* Next earnings are expected to be released in 10 days.

What The Experts Say On Peloton Interactive:

* Stifel has decided to maintain their Buy rating on Peloton Interactive, which currently sits at a price target of $120.0.

* Keybanc has decided to maintain their Overweight rating on Peloton Interactive, which currently sits at a price target of $155.0.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.