Spotlight on Costco Wholesale: Analyzing the Surge in Options Activity
Portfolio Pulse from Benzinga Insights
Benzinga's options scanner observed unusual options activity for Costco Wholesale (NASDAQ:COST), with a mix of bearish and bullish sentiment among big-money investors. A total of 26 uncommon options trades were detected, with 8 puts and 18 calls, indicating a price target range of $260 to $660 for COST over the next three months. The largest trades included both bullish and bearish positions with various expiration dates and strike prices. Costco operates a successful membership-based retail model and holds a significant market share. Its stock is slightly up with a potential overbought RSI indicator, and earnings are expected in 17 days. Analysts have given mixed reviews with an average target price of $600, with ratings ranging from Overweight to Outperform.
November 27, 2023 | 7:46 pm
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Costco Wholesale saw a surge in options activity with a balance of bearish and bullish bets. Analysts have mixed ratings with an average price target of $600. The stock is slightly up, but RSI suggests it may be overbought. Earnings are expected soon, which could influence stock volatility.
The mixed sentiment in options activity, combined with the upcoming earnings announcement and the current RSI indicator, suggests uncertainty in the short-term price direction. The average analyst target price aligns with the upper range of the options activity, but the potential overbought condition could limit upside potential.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100