Etsy Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Significant options trading activity on Etsy (NASDAQ:ETSY) indicates a mixed sentiment among big-money investors, with a lean towards bearishness. Benzinga's options scanner revealed 9 unusual trades, showing a split sentiment of 44% bullish and 55% bearish. The trades focus on a price band between $60.0 and $90.0 for Etsy. Analysts have varying views on Etsy, with target prices ranging from $64 to $95. The company, a major e-commerce marketplace, reported a consolidated gross merchandise volume of $13.2 billion in 2023.
February 29, 2024 | 7:02 pm
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NEUTRAL IMPACT
Etsy's mixed sentiment from unusual options activity and varied analyst target prices suggest short-term volatility. The company's strong 2023 performance may counterbalance bearish options sentiment.
The unusual options activity, with a slight lean towards bearishness, combined with the varied analyst target prices, indicates potential short-term volatility for Etsy's stock. However, Etsy's strong performance in 2023, with a significant gross merchandise volume, suggests underlying strength that may counterbalance the bearish sentiment in the options market. The mixed views from analysts further contribute to the uncertainty, making it difficult to predict the stock's short-term direction with high confidence.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100