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WOLF

The article highlights unusual options activity in the Information Technology sector, focusing on trades involving companies like NVDA, INTC, MSTR, AMD, MSFT, CLSK, WOLF, SMCI, S, and CORZ. These trades, tracked by Benzinga's options activity scanner, indicate potential market movements based on the sentiment of large investors, or 'whales'.

Portfolio Pulse from Benzinga Insights

August 23, 2024 | 5:35 pm

BAC

Recent options trading activity for Bank of America (NYSE:BAC) shows a bearish sentiment among major investors, with 60% of trades being bearish. The trading volume and open interest suggest a focus on a price range between $30 and $65. Despite this, the stock price is currently up 0.25% at $39.34, with a neutral RSI. Analysts have set an average price target of $49, with Morgan Stanley maintaining an Overweight rating.

Portfolio Pulse from Benzinga Insights

August 23, 2024 | 5:32 pm

ORCL

Recent options trading trends in Oracle (NYSE:ORCL) show a significant interest from big-money investors, with a mix of bullish and bearish sentiments. The options activity suggests a price range of $110 to $150 for Oracle, with a notable volume and open interest in these trades.

Portfolio Pulse from Benzinga Insights

August 23, 2024 | 5:32 pm

Wealthy investors are showing interest in AT&T (NYSE:T) with a mix of bullish and bearish options trades. Benzinga's options scanner detected 8 significant trades, split evenly between puts and calls. The trades suggest a price target range of $18.5 to $23.0. Analysts have mixed ratings, with price targets ranging from $19 to $23.

Portfolio Pulse from Benzinga Insights

August 23, 2024 | 5:32 pm

CNI

Canadian National Railway (CN) has received a 72-hour strike notice from the Teamsters Canada Rail Conference, with the strike set to begin on August 26. CN has criticized the Teamsters for potentially disrupting the economy, especially after a recent lockout ended and negotiations were conducted in good faith.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 5:31 pm

PGR

Progressive (NYSE:PGR) has outperformed the market over the past 20 years with an average annual return of 13.21%, surpassing the market by 4.79% annually. A $1000 investment in PGR 20 years ago would now be worth $11,930.91, highlighting the power of compounded returns.

Portfolio Pulse from Benzinga Insights

August 23, 2024 | 5:31 pm

ADSK

Autodesk (NASDAQ:ADSK) has significantly outperformed the market over the past 20 years, with an annualized return of 12.97%. A $100 investment in Autodesk 20 years ago would now be worth $1,167.71, highlighting the power of compounded returns.

Portfolio Pulse from Benzinga Insights

August 23, 2024 | 5:31 pm

ETH

Ethereum has seen a 22% decline in the past month, but trader Eugene Ng Ah Sio anticipates a potential rally. Despite disappointing Ethereum ETF flows, the negative sentiment and whale capitulation suggest a low positioning for Ethereum, which could lead to a rally. The lack of a Solana ETF and potential unwinding of SOL positions may also shift market dynamics in Ethereum's favor.

Portfolio Pulse from Khyathi Dalal

August 23, 2024 | 5:28 pm

IWM

SPY

Market strategist Jay Woods discusses the potential impact of a Federal Reserve rate cut, the outlook for small-cap stocks, and election year trends. He predicts a rate cut in September, which may already be priced into stocks, and highlights the potential for a small-cap rally. The iShares Russell 2000 ETF (IWM) and SPDR S&P 500 ETF Trust (SPY) are mentioned as key indicators.

Portfolio Pulse from Chris Katje

August 23, 2024 | 5:23 pm

APDN

Applied DNA Sciences, Inc. (NASDAQ:APDN) stock surged on Friday due to high trading volume and the submission of a validation package to expand its Linea Mpox Virus 1.0 Assay. The expansion aims to include mpox clade I and clade II, pending approval from the New York State Department of Health. The stock's rise is also influenced by the WHO's declaration of a public health emergency over mpox.

Portfolio Pulse from Vandana Singh

August 23, 2024 | 5:19 pm