NIO Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been detected for NIO (NYSE:NIO), with a bearish stance being taken by a whale investor. Of the 28 strange trades detected, 46% were bullish and 53% were bearish. The trades included 4 puts worth $207,840 and 24 calls worth $1,167,328. The price target for NIO over the last 3 months has been between $7.5 and $35.0. The current price of NIO is down -1.08% at $14.56. JP Morgan and UBS have both maintained their Neutral rating on NIO, with price targets of $9 and $15 respectively.
August 07, 2023 | 4:15 pm
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Unusual options activity has been detected for NIO, with a bearish stance being taken by a whale investor. The price target for NIO over the last 3 months has been between $7.5 and $35.0. The current price of NIO is down -1.08% at $14.56.
The bearish stance taken by a whale investor, coupled with the unusual options activity, indicates a potential downward pressure on NIO's stock price in the short term. The current price of NIO is already down, which aligns with this prediction. Furthermore, the price targets set by JP Morgan and UBS are below the current price, which could further contribute to a potential decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100