Globe Life's Options: A Look at What the Big Money is Thinking
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown a bearish sentiment towards Globe Life (NYSE:GL), with a significant move in options trading indicating potential big changes. Benzinga's tracking revealed 38 unusual options activities, with a bearish majority (65%) through puts totaling $3,270,603 and bullish calls at $90,468. The expected price range for GL is between $90.0 and $120.0 over the next three months. Globe Life's stock is currently down by -15.4%, trading at $88.77, with an RSI suggesting it may be oversold. Analyst ratings from Evercore ISI Group, Piper Sandler, and Keefe, Bruyette & Woods average a target price of $128.33 for GL.
April 11, 2024 | 2:01 pm
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NEUTRAL IMPACT
Globe Life has seen a bearish trend in options trading, with a significant volume of puts. Despite this, analyst ratings suggest a potential upside with an average target price of $128.33.
The bearish sentiment in options trading suggests short-term downward pressure on GL's stock price. However, the analyst ratings and the current price being considered potentially oversold (RSI values) indicate a discrepancy between market sentiment and the stock's fundamental value. This mixed signal could lead to short-term volatility but also presents a potential upside if the analysts' target prices are accurate reflections of Globe Life's intrinsic value.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100