Market Whales and Their Recent Bets on SPG Options
Portfolio Pulse from Benzinga Insights
Recent options trading activity for Simon Property Group (NYSE:SPG) indicates a bearish sentiment among large investors, with 6 put options and 2 call options detected. The price target for SPG is between $125.0 and $155.0. The stock is currently trading at $148.07, up by 0.66%, with an RSI indicating it may be approaching overbought territory. An analyst from Scotiabank maintains a Sector Perform rating with a price target of $152.0.
May 30, 2024 | 6:45 pm
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Large investors have taken a bearish stance on Simon Property Group (NYSE:SPG) with significant put options activity. The stock is currently trading at $148.07, up by 0.66%, and may be approaching overbought territory. An analyst from Scotiabank maintains a Sector Perform rating with a price target of $152.0.
The detection of significant put options activity suggests that large investors are bearish on SPG. This could lead to downward pressure on the stock price in the short term. The current price is $148.07, and the RSI indicates it may be approaching overbought territory, which could further support a potential decline. The analyst rating of Sector Perform with a price target of $152.0 provides a neutral to slightly positive long-term outlook, but the immediate sentiment is bearish.
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