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High-rolling investors have positioned themselves bearish on SoundHound AI (NASDAQ:SOUN), 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 SOUN often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 11 options trades for SoundHound AI. This is not a typical pattern.
The sentiment among these major traders is split, with 36% bullish and 63% bearish. Among all the options we identified, there was one put, amounting to $32,000, and 10 calls, totaling $730,780.
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $5.0 to $12.0 for SoundHound AI over the last 3 months.
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in SoundHound AI's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to SoundHound AI's substantial trades, within a strike price spectrum from $5.0 to $12.0 over the preceding 30 days.
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
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SOUN | CALL | SWEEP | BEARISH | 04/19/24 | $7.50 | $195.0K | 157 | 1.0K |
SOUN | CALL | SWEEP | BEARISH | 03/28/24 | $6.00 | $110.0K | 2.8K | 1.0K |
SOUN | CALL | SWEEP | BEARISH | 03/28/24 | $6.00 | $110.0K | 2.8K | 529 |
SOUN | CALL | TRADE | BULLISH | 03/28/24 | $6.00 | $109.7K | 2.8K | 1.0K |
SOUN | CALL | TRADE | BULLISH | 07/19/24 | $9.00 | $47.0K | 1.9K | 1 |
SoundHound AI Inc is an innovator of conversational intelligence, offering an independent Voice AI platform that enables businesses across industries to deliver high-quality conversational experiences to customers.
Having examined the options trading patterns of SoundHound AI, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $7.76.
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 SoundHound AI options trades with real-time alerts from Benzinga Pro.
Posted In: SOUN