Costco Wholesale Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown a bearish sentiment towards Costco Wholesale (NASDAQ:COST), with unusual options activity detected. Benzinga's options scanner revealed 30 extraordinary activities, with 70% bearish and 30% bullish sentiment among them. The significant trading range for COST is predicted between $575.0 and $1060.0 over the next three months. The largest options trades include both bullish and bearish positions, with notable trades aiming for various strike prices. Costco's current stock price is up 0.45% at $715.0, with analysts giving mixed ratings but generally leaning towards a positive outlook with a consensus target price of $789.0.
April 09, 2024 | 6:45 pm
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NEUTRAL IMPACT
Costco Wholesale has seen unusual options activity indicating a bearish sentiment among investors, yet analysts maintain a positive outlook with a consensus target price of $789.0.
The bearish sentiment from the options activity contrasts with the positive outlook from analysts, creating uncertainty. However, the strong market position and performance of Costco, along with the analysts' consensus target price, suggest that any short-term volatility might be outweighed by long-term fundamentals. The mixed signals from the market and analysts make the short-term impact neutral, as the bearish options activity could be balanced by positive analyst ratings and Costco's solid market standing.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100