Benzinga | Jan 24, 2022 12:05PM EST

This Is What Whales Are Betting On Enphase Energy

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

Looking at options history for Enphase Energy (NASDAQ:ENPH) we detected 10 strange trades.

If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 60% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $419,723 and 3, calls, for a total amount of $88,190.

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 $70.0 to $200.0 for Enphase Energy over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Enphase Energy options trades today is 225.67 with a total volume of 581.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Enphase Energy's big money trades within a strike price range of $70.0 to $200.0 over the last 30 days.

Enphase Energy 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 InterestENPH PUT TRADE NEUTRAL 01/19/ $95.00 $63.7K 41 189 24ENPH PUT TRADE BULLISH 01/19/ $95.00 $63.1K 41 85 24ENPH PUT TRADE BULLISH 01/19/ $95.00 $62.9K 41 126 24ENPH PUT TRADE BULLISH 01/19/ $95.00 $62.8K 41 51 24ENPH PUT TRADE BEARISH 02/18/ $200.00 $60.0K 1.2K 12 22

Where Is Enphase Energy Standing Right Now?

* With a volume of 1,931,489, the price of ENPH is down -7.77% at $116.23.

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

* Next earnings are expected to be released in 15 days.

What The Experts Say On Enphase Energy:

* Keybanc has decided to maintain their Overweight rating on Enphase Energy, which currently sits at a price target of $200.

* Truist Securities has decided to maintain their Buy rating on Enphase Energy, which currently sits at a price target of $200.

* B of A Securities downgraded its action to Neutral with a price target of $187

* Guggenheim upgraded its action to Buy with a price target of $213

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.