Benzinga | Nov 23, 2021 12:15PM EST

Chewy Whale Trades Spotted

A whale with a lot of money to spend has taken a noticeably bullish stance on Chewy.

Looking at options history for Chewy (NYSE:CHWY) we detected 12 strange trades.A whale with a lot of money to spend has taken a noticeably bullish stance on Chewy.

Looking at options history for Chewy (NYSE:CHWY) we detected 12 strange trades.

If we consider the specifics of each trade, it is accurate to state that 50.0% of the investors opened trades with bullish expectations and 50.0% with bearish.

From the overall spotted trades, 10 are puts, for a total amount of $778,404.00 and 2, calls, for a total amount of $68,700.00.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 $40.0 to $115.0 for Chewy 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 Chewy'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 Chewy's whale activity within a strike price range from $40.0 to $115.0 in the last 30 days. Chewy 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 InterestCHWY PUT SWEEP BEARISH 12/17/ $75.00 $129.2K 10.7K 15 21CHWY PUT SWEEP BEARISH 12/17/ $75.00 $127.3K 10.7K 205 21CHWY PUT SWEEP BEARISH 01/19/ $40.00 $122.0K 17 0 24CHWY PUT SWEEP BULLISH 12/17/ $75.00 $112.2K 10.7K 120 21CHWY PUT SWEEP BEARISH 12/17/ $75.00 $69.1K 10.7K 395 21

Where Is Chewy Standing Right Now?

* With a volume of 1,671,360.00, the price of CHWY is down -3.85% at $63.5.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 16 days.

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.