High-rolling investors have positioned themselves bullish on BlackRock (BLK), and it’s important for retail traders to take note. This activity came to our attention today through Benzinga’s tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in BLK often signals that someone has privileged information.
Today, Benzinga’s options scanner spotted 14 options trades for BlackRock. This is not a typical pattern. The sentiment among these major traders is split, with 64% bullish and 35% bearish. Among all the options we identified, there was one put, amounting to $34,320, and 13 calls, totaling $1,026,537.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $550.0 to $900.0 for BlackRock during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for BlackRock options trades today is 137.17 with a total volume of 767.00. In the following chart, we are able to follow the development of volume and open interest of call and put options for BlackRock’s big money trades within a strike price range of $550.0 to $900.0 over the last 30 days.
Noteworthy Options Activity:
Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
BLK CALL TRADE BULLISH 04/05/24 $840.00 $193.7K 59 128
BLK CALL TRADE BULLISH 04/19/24 $880.00 $120.8K 184 328
BLK CALL SWEEP BULLISH 04/19/24 $890.00 $113.0K 123 0
BLK CALL TRADE BULLISH 04/19/24 $820.00 $99.0K 192 2
BLK CALL TRADE BEARISH 04/05/24 $830.00 $84.0K 70 40
About BlackRock
BlackRock is the largest asset manager in the world, with $10.008 trillion in assets under management at the end of December 2023. Its product mix is fairly diverse, with 52% of managed assets in equity strategies, 28% in fixed income, 9% in multi-asset classes, 8% in money market funds, and 3% in alternatives. Passive strategies account for around two-thirds of long-term AUM, with the company’s ETF platform maintaining a leading market share domestically and on a global basis. Product distribution is weighted more toward institutional clients, which by our calculations account for around 80% of AUM. BlackRock is geographically diverse, with clients in more than 100 countries and more than one-third of managed assets coming from investors domiciled outside the US and Canada.
Where Is BlackRock Standing Right Now?
– Trading volume stands at 174,998, with BLK’s price up by 2.9%, positioned at $841.62.
– RSI indicators show the stock may be approaching overbought.
– Earnings announcement expected in 22 days.
Expert Opinions on BlackRock
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $920.0.
An analyst from Evercore ISI Group persists with their Outperform rating on BlackRock, maintaining a target price of $920.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest BlackRock options trades with real-time alerts from Benzinga Pro.
