Benzinga | Dec 13, 2021 02:18PM EST

Asana Whale Trades Spotted

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

Looking at options history for Asana (NYSE:ASAN) we detected 10 strange trades.

If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 70% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $339,620 and 3, calls, for a total amount of $170,799.

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 $52.50 to $150 for Asana 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 Asana'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 Asana's whale activity within a strike price range from $52.50 to $150 in the last 30 days.

Asana 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 InterestASAN CALL SWEEP BEARISH 12/16/ $150.00 $94.2K 27 162 22ASAN PUT SWEEP BEARISH 02/18/ $52.50 $77.8K 1.5K 370 22ASAN PUT TRADE BEARISH 12/17/ $90.00 $66.2K 1.3K 31 21ASAN PUT TRADE BEARISH 02/18/ $80.00 $60.0K 141 30 22ASAN CALL TRADE NEUTRAL 01/20/ $90.00 $42.9K 155 27 23

Where Is Asana Standing Right Now?

* With a volume of 2,747,333.00, the price of ASAN is down -5.52% at $64.16.

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

* Next earnings are expected to be released in 86 days.

What The Experts Say On Asana:

* JMP Securities has decided to maintain their Market Outperform rating on Asana, which currently sits at a price target of $95.

* Piper Sandler has decided to maintain their Overweight rating on Asana, which currently sits at a price target of $140.

* Morgan Stanley has decided to maintain their Equal-Weight rating on Asana, which currently sits at a price target of $80.

* Keybanc has decided to maintain their Overweight rating on Asana, which currently sits at a price target of $103.

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.