Constellation Brands Unusual Options Activity For October 12
Portfolio Pulse from Benzinga Insights
Constellation Brands (NYSE:STZ) has seen unusual options activity, with a significant bearish stance taken by investors. Of the 11 strange trades detected, 72% were bearish and 27% bullish. The total amount for the 7 puts was $784,960 and for the 4 calls was $292,960. Whales have been targeting a price range from $195.0 to $235.0 for Constellation Brands over the last 3 months. The stock is currently down -4.22% at $228.91. Analysts from JP Morgan and Goldman Sachs maintain their Overweight and Buy ratings respectively, while Truist Securities and Wedbush have downgraded their actions.
October 12, 2023 | 7:32 pm
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Bearish options activity observed for Constellation Brands. The stock is currently down and analysts have mixed ratings.
The bearish stance taken by investors in options trading, coupled with the current downward trend of the stock, indicates a potential short-term negative impact on the stock. The mixed analyst ratings further add to the uncertainty around the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100