Investors with a lot of money to spend have taken a bullish stance on Upstart Hldgs (UPST). And retail traders should take notice. This significant investment activity in UPST options suggests that something big may be on the horizon.
Today, Benzinga’s options scanner spotted 9 options trades for Upstart Hldgs, which is not a normal occurrence. The overall sentiment among these big-money traders is split between 66% bullish and 33% bearish. This indicates that there is considerable optimism surrounding the stock.
Out of all the options trades uncovered, there was 1 put option for a total amount of $28,475 and 8 call options for a total amount of $358,073. This shows that investors are more inclined to bet on the stock’s price increasing rather than decreasing.
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.0 to $40.0 for Upstart Hldgs over the recent three months. This suggests that they expect the stock to experience significant growth within this range.
Looking at the volume and open interest of calls and puts, it is clear that there has been a lot of interest in Upstart Hldgs’ options within the strike price range of $30.0 to $40.0 in the last 30 days. This indicates that there is strong liquidity and interest in these options.
Some of the biggest options spotted for Upstart Hldgs include a bearish call trade for $150.6K with an expiration date of 02/16/24 and a strike price of $37.50. There were also bullish call trades with various expiration dates and strike prices, indicating a range of bullish sentiments among investors.
Upstart Hldgs is a company that provides credit services through its proprietary, cloud-based, artificial intelligence lending platform. The platform connects consumer demand for loans to a network of AI-enabled bank partners. The company generates revenue through fees paid by banks.
In terms of its current market position, Upstart Hldgs’ stock price is up by 0.09% to $32.02, with a trading volume of 1,929,102. The stock’s current RSI values suggest that it is in a neutral position between overbought and oversold. The next earnings report is scheduled for 7 days from now.
Analysts have released ratings on Upstart Hldgs, with an average target price of $23.0. One analyst from Mizuho maintains an Underperform rating on the stock with a target price of $23.
It’s important to note that options trading presents higher risks and potential rewards. Traders need to continually educate themselves, adapt their strategies, and closely monitor indicators and market movements. Stay informed about the latest Upstart Hldgs options trades with real-time alerts from Benzinga Pro.
