Market Whales and Their Recent Bets on CHWY Options
Portfolio Pulse from Benzinga Insights
Market whales have shown a significant interest in Chewy (NYSE:CHWY) options, with a bearish stance overall. Benzinga's options scanner revealed 10 unusual trades, indicating a split sentiment of 40% bullish and 60% bearish. The trades include 7 puts and 3 calls, targeting a price range of $7.0 to $30.0 for Chewy. Notable options activity and Chewy's market performance, including a recent 4.76% price increase to $16.18, were highlighted. Analysts from Piper Sandler and Citigroup maintain a Neutral rating on Chewy, with a target price of $16. Chewy, a leading e-commerce pet care retailer, reported $11.2 billion in 2023 sales.
May 09, 2024 | 6:32 pm
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NEUTRAL IMPACT
Whales' bearish bets on Chewy options suggest potential volatility, but the stock's recent rise and analysts' neutral ratings indicate mixed short-term prospects.
The bearish stance by market whales on Chewy's options could suggest anticipation of negative news or a downturn. However, the stock's recent price increase and neutral analyst ratings from Piper Sandler and Citigroup provide a counterbalance, indicating uncertainty in the short-term price direction. The significant interest in both puts and calls reflects a divided sentiment among investors, potentially leading to increased volatility in Chewy's stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100