Chewy's Options: A Look at What the Big Money is Thinking
Portfolio Pulse from Benzinga Insights
Investors have shown a bearish stance on Chewy (NYSE:CHWY), with options trading indicating a split sentiment of 20% bullish and 50% bearish. Benzinga's options scanner revealed 10 unusual trades, with a focus on a price window from $15.0 to $70.0 for Chewy. The largest trades were calls, with the most significant being a bullish call sweep for a $15.00 strike price expiring on 01/16/26, totaling $112.6K. Chewy, a leading e-commerce pet care retailer, reported $11.2 billion in 2023 sales. Currently, CHWY's stock is down by -1.63%, trading at $15.35, with an analyst from Piper Sandler maintaining a Neutral rating and a target price of $16.

April 24, 2024 | 6:01 pm
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NEGATIVE IMPACT
Bearish options trading sentiment with a focus on a price window from $15.0 to $70.0. Chewy's stock is currently down by -1.63%, trading at $15.35, with an analyst target price of $16.
The bearish sentiment in options trading, combined with the current stock price decline, suggests a negative short-term impact. However, the presence of bullish trades and an analyst's neutral rating with a close target price indicates mixed signals, leading to a cautious negative outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100