What the Options Market Tells Us About Oracle
Portfolio Pulse from Benzinga Insights
Recent options market activity indicates a bearish sentiment towards Oracle (NYSE:ORCL), with 80% of detected trades being bearish. The analysis of volume and open interest suggests whales are targeting a price range of $100.0 to $145.0 for ORCL over the last 3 months. Notable options activity includes a mix of bullish and bearish positions, with significant trades in both calls and puts. Oracle's current trading volume is 7,434,392, with a price decrease of -1.59%, and an RSI indicating it may be approaching overbought territory. An earnings announcement is expected in 67 days.
April 04, 2024 | 8:45 pm
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NEGATIVE IMPACT
Bearish options market sentiment with 80% trades bearish. Whales target $100-$145 range. Current price down -1.59%, near overbought. Earnings expected in 67 days.
The bearish sentiment in the options market, indicated by 80% of trades being bearish and the targeting of a price range significantly above the current price, suggests a negative outlook for ORCL in the short term. The current price dip and the approach towards overbought territory further support this bearish view. The upcoming earnings announcement adds uncertainty, potentially influencing stock volatility.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100