PacWest Banc Option Alert: Jun 2 $7 Calls Sweep (5) near the Ask: 1000 @ $0.6 vs 782 OI; Ref=$6.21
Portfolio Pulse from Charles Gross
PacWest Bancorp (PACW) experienced a notable options activity with 1,000 June 2 $7 calls being purchased near the ask price at $0.6, compared to an open interest of 782 contracts. The stock is currently trading at $6.21.
May 19, 2023 | 1:38 pm
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NEUTRAL IMPACT
PacWest Bancorp's stock may experience short-term volatility due to the significant options activity with 1,000 June 2 $7 calls being purchased near the ask price at $0.6.
The significant options activity in PacWest Bancorp indicates that investors are expecting potential price movement in the short term. However, it is difficult to predict the exact direction of the stock price based on this information alone. The stock may experience short-term volatility, but the overall impact on the stock price is uncertain.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100