Benzinga | Dec 9, 2021 09:55PM EST

Bakkt Hldgs Whale Trades For December 09

A whale with a lot of money to spend has taken a noticeably bearish stance on Bakkt Hldgs.

Looking at options history for Bakkt Hldgs (NYSE:BKKT) we detected 14 strange trades.

If we consider the specifics of each trade, it is accurate to state that 42.86% of the investors opened trades with bullish expectations and 57.14% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $366,364.00 and 9, calls, for a total amount of $1,060,793.00.

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 $8.0 to $40.0 for Bakkt Hldgs 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 Bakkt 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 Bakkt Hldgs's whale activity within a strike price range from $8.0 to $40.0 in the last 30 days.

Bakkt 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 InterestBKKT CALL SWEEP BEARISH 12/10/ $10.00 $642.6K 79 1.1K 21BKKT PUT TRADE NEUTRAL 12/10/ $25.00 $253.3K 381 250 21BKKT CALL TRADE NEUTRAL 05/20/ $8.00 $117.3K 539 180 22BKKT CALL SWEEP NEUTRAL 12/17/ $13.00 $72.0K 2.0K 1.0K 21BKKT CALL SWEEP BEARISH 12/17/ $15.00 $56.3K 5.1K 2.7K 21

Where Is Bakkt Hldgs Standing Right Now?

* With a volume of 7,956,985.00, the price of BKKT is down -8.52% at $15.68.

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

* Next earnings are expected to be released in 63 days.

What The Experts Say On Bakkt Hldgs:

* Jefferies downgraded its action to Hold with a price target of $28.0

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.