This Is What Whales Are Betting On Ferrari
Portfolio Pulse from Benzinga Insights
Wealthy investors have taken a bearish stance on Ferrari (NYSE:RACE), as observed through options trades tracked by Benzinga. The sentiment is split with 33% bullish and 55% bearish. The options trades indicate a targeted price range of $380 to $560 for Ferrari over the last three months. The stock is currently up 1.41% at $437.88, with RSI indicators suggesting it may be approaching overbought territory.
August 14, 2024 | 5:45 pm
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Wealthy investors have shown a bearish sentiment towards Ferrari (NYSE:RACE) through recent options trades. The sentiment is split with 33% bullish and 55% bearish. The stock is currently up 1.41% at $437.88, but RSI indicators suggest it may be approaching overbought territory.
The bearish sentiment from wealthy investors, as indicated by the options trades, suggests a potential short-term decline in Ferrari's stock price. The current price increase and overbought RSI indicators further support the likelihood of a price correction.
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