Benzinga | Oct 29, 2021 11:52AM EDT

Check Out What Whales Are Doing With CHPT

Someone with a lot of money to spend (and possibly insider knowledge) has taken a bearish stance on ChargePoint Hldgs (NYSE:CHPT).

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 CHPT, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 10 options trades for ChargePoint Hldgs.

This isn't normal.

The overall sentiment of these big-money traders is split between 30.0% bullish and 70.0%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $31,521, and 9, calls, for a total amount of $394,181..

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 $17.0 to $25.0 for ChargePoint Hldgs over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for ChargePoint Hldgs'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 ChargePoint Hldgs's whale trades within a strike price range from $17.0 to $25.0 in the last 30 days.

ChargePoint Hldgs 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 InterestCHPT CALL TRADE NEUTRAL 11/12/ $19.00 $55.0K 227 0 21CHPT CALL TRADE BEARISH 11/19/ $22.50 $53.8K 3.1K 38 21CHPT CALL TRADE NEUTRAL 11/19/ $22.50 $53.4K 3.1K 441 21CHPT CALL SWEEP NEUTRAL 11/19/ $22.00 $50.2K 745 161 21CHPT CALL TRADE BEARISH 11/19/ $20.00 $46.5K 2.5K 111 21

Where Is ChargePoint Hldgs Standing Right Now?

* With a volume of 3,660,189, the price of CHPT is up 2.4% at $24.74.

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

* Next earnings are expected to be released in 11 days.

What The Experts Say On ChargePoint Hldgs:

* Stifel downgraded its action to Buy with a price target of $29.0

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.