Deep-pocketed investors have adopted a bullish approach towards Dell Technologies (NYSE:DELL), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DELL usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 51 extraordinary options activities for Dell Technologies. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 43% leaning bullish and 31% bearish. Among these notable options, 13 are puts, totaling $747,965, and 38 are calls, amounting to $3,684,088.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $95.0 and $250.0 for Dell Technologies, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Dell Technologies's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Dell Technologies's whale trades within a strike price range from $95.0 to $250.0 in the last 30 days.
Dell Technologies Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DELL | CALL | SWEEP | BEARISH | 09/20/24 | $18.5 | $18.1 | $18.1 | $135.00 | $905.0K | 2.1K | 503 |
| DELL | CALL | SWEEP | BEARISH | 09/20/24 | $16.8 | $16.6 | $16.7 | $135.00 | $761.5K | 2.1K | 1.5K |
| DELL | CALL | SWEEP | NEUTRAL | 01/17/25 | $46.3 | $45.2 | $45.88 | $100.00 | $231.0K | 1.4K | 3 |
| DELL | CALL | TRADE | BEARISH | 10/18/24 | $42.4 | $42.3 | $42.3 | $100.00 | $169.2K | 387 | 0 |
| DELL | PUT | SWEEP | BULLISH | 07/05/24 | $2.95 | $2.9 | $2.9 | $138.00 | $116.0K | 295 | 171 |
About Dell Technologies
Dell Technologies is a broad information technology vendor, primarily supplying hardware to enterprises. It is focused on premium personal computers and enterprise on-premises data center hardware. It holds top-three shares in its core markets of personal computers, peripheral displays, mainstream servers, and external storage. Dell is vertically integrated but has a robust ecosystem of component and assembly partners, and also relies heavily on channel partners to fulfill its sales.
After a thorough review of the options trading surrounding Dell Technologies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Dell Technologies Standing Right Now?
- With a trading volume of 5,400,470, the price of DELL is down by -1.56%, reaching $137.26.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 62 days from now.
What Analysts Are Saying About Dell Technologies
In the last month, 5 experts released ratings on this stock with an average target price of $147.4.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on Dell Technologies with a target price of $155.
- An analyst from Barclays persists with their Underweight rating on Dell Technologies, maintaining a target price of $97.
- An analyst from Morgan Stanley has decided to maintain their Overweight rating on Dell Technologies, which currently sits at a price target of $155.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Dell Technologies, targeting a price of $155.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on Dell Technologies, which currently sits at a price target of $175.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Dell Technologies, Benzinga Pro gives you real-time options trades alerts.