Ferrari Unusual Options Activity For August 04
Portfolio Pulse from Benzinga Insights
A significant amount of bearish options activity has been observed for Ferrari (NYSE:RACE). Of the 11 unusual trades detected, 81% were bearish and 18% bullish. The total amount for puts was $442,647 and for calls was $203,330. Whales have been targeting a price range from $160.0 to $310.0 for Ferrari over the last 3 months. The current price of RACE is up 0.44% at $315.55. Morgan Stanley maintains an Overweight rating on Ferrari with a price target of $340.
August 04, 2023 | 5:01 pm
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Bearish options activity has been observed for Ferrari. The majority of unusual trades were bearish, indicating a potential short-term downward pressure on the stock. However, Morgan Stanley maintains an Overweight rating with a price target of $340.
The bearish options activity indicates that investors are expecting the price of Ferrari to decrease in the short term. This could put downward pressure on the stock. However, Morgan Stanley's Overweight rating suggests they believe the stock will outperform the market, which could counteract some of this pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100