Investors with a lot of money to spend have taken a bullish stance on Ferrari (NYSE:RACE).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with RACE, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 9 uncommon options trades for Ferrari.
This isn't normal.
The overall sentiment of these big-money traders is split between 55% bullish and 33%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $332,120, and 4 are calls, for a total amount of $333,500.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $210.0 to $430.0 for Ferrari during the past quarter.
Analyzing Volume & Open Interest
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 Ferrari'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 Ferrari's whale trades within a strike price range from $210.0 to $430.0 in the last 30 days.
Ferrari 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RACE | CALL | SWEEP | BULLISH | 08/16/24 | $161.4 | $157.8 | $159.0 | $250.00 | $159.0K | 0 | 0 |
| RACE | PUT | TRADE | BEARISH | 06/14/24 | $18.3 | $17.0 | $18.3 | $425.00 | $87.8K | 204 | 1 |
| RACE | PUT | TRADE | NEUTRAL | 06/14/24 | $19.2 | $16.1 | $17.4 | $425.00 | $81.7K | 204 | 51 |
| RACE | CALL | SWEEP | BULLISH | 06/21/24 | $198.5 | $196.6 | $198.5 | $210.00 | $79.4K | 4 | 0 |
| RACE | PUT | TRADE | BEARISH | 07/19/24 | $27.5 | $26.2 | $27.0 | $430.00 | $67.5K | 158 | 0 |
About Ferrari
Ferrari engineers and manufactures some of the world's most expensive exotic sports cars. The Ferrari brand is synonymous with Formula One racing, exclusivity, Italian design, and state-of-the-art technology. Ferrari also has a captive finance company that provides funding for dealers and clients. In 2023, Europe, Middle East, and Africa accounted for 48% of revenue, the Americas was 30%, China was 10%, and the rest of Asia was 12%.
Having examined the options trading patterns of Ferrari, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Ferrari's Current Market Status
- With a trading volume of 346,554, the price of RACE is down by -1.61%, reaching $409.98.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 47 days from now.
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 Ferrari options trades with real-time alerts from Benzinga Pro.