Unpacking the Latest Options Trading Trends in GigaCloud Tech
Deep-pocketed investors have adopted a bullish approach towards GigaCloud Tech (NASDAQ:GCT), 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 GCT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for GigaCloud Tech. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 33% bearish. Among these notable options, 7 are puts, totaling $382,900, and 2 are calls, amounting to $69,985.
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 $15.0 and $40.0 for GigaCloud Tech, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for GigaCloud Tech'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 GigaCloud Tech's whale activity within a strike price range from $15.0 to $40.0 in the last 30 days.
GigaCloud Tech Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GCT | PUT | TRADE | BULLISH | 01/17/25 | $12.4 | $11.4 | $11.4 | $35.00 | $114.0K | 1.3K | 201 |
| GCT | PUT | TRADE | BULLISH | 01/17/25 | $11.6 | $11.4 | $11.4 | $35.00 | $114.0K | 1.3K | 100 |
| GCT | CALL | SWEEP | BEARISH | 07/19/24 | $15.7 | $15.4 | $15.6 | $15.00 | $38.8K | 480 | 25 |
| GCT | PUT | TRADE | BEARISH | 10/18/24 | $6.4 | $6.3 | $6.4 | $30.00 | $32.0K | 900 | 200 |
| GCT | PUT | TRADE | BULLISH | 10/18/24 | $7.0 | $6.3 | $6.4 | $30.00 | $32.0K | 900 | 100 |
About GigaCloud Tech
GigaCloud Technology Inc end-to-end B2B e-commerce solutions for large parcel merchandise. Its B2B e-commerce platform, which is referred to as the GigaCloud Marketplace, integrates everything from discovery, payments, and logistics tools into one easy-to-use platform. It offers online and offline integrated cross-border transaction and delivery services for furniture and large merchandise. Its marketplace seamlessly connects manufacturers in Asia, with resellers in the U.S., Asia, and Europe, to execute cross-border transactions with confidence, speed, and efficiency. It offers a truly comprehensive solution that transports products from the manufacturer's warehouse to end customers, all at one fixed price.
Following our analysis of the options activities associated with GigaCloud Tech, we pivot to a closer look at the company's own performance.
Current Position of GigaCloud Tech
- Currently trading with a volume of 1,562,978, the GCT's price is down by -3.96%, now at $31.26.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 77 days.
Expert Opinions on GigaCloud Tech
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $69.0.
- Reflecting concerns, an analyst from Maxim Group lowers its rating to Buy with a new price target of $69.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for GigaCloud Tech with Benzinga Pro for real-time alerts.