Market Whales and Their Recent Bets on DELL Options

Author: Benzinga Insights | March 27, 2024 03:45pm

High-rolling investors have positioned themselves bearish on Dell Technologies (NYSE:DELL), 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 DELL often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 29 options trades for Dell Technologies. This is not a typical pattern.

The sentiment among these major traders is split, with 37% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $54,450, and 28 calls, totaling $1,346,840.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $165.0 for Dell Technologies over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Dell Technologies options trades today is 2084.82 with a total volume of 15,218.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Dell Technologies's big money trades within a strike price range of $100.0 to $165.0 over the last 30 days.

Dell Technologies Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Strike Price	Total Trade Price	Open Interest	Volume
DELL	CALL	TRADE	BULLISH	01/16/26	$130.00	$101.0K	5.0K	85
DELL	CALL	TRADE	BULLISH	06/21/24	$145.00	$99.4K	4.4K	3.2K
DELL	CALL	TRADE	BULLISH	06/21/24	$145.00	$99.0K	4.4K	825
DELL	CALL	TRADE	NEUTRAL	01/17/25	$125.00	$75.5K	763	5
DELL	CALL	SWEEP	BULLISH	06/21/24	$150.00	$74.0K	1.2K	817

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.

Where Is Dell Technologies Standing Right Now?

• Currently trading with a volume of 3,312,307, the DELL's price is down by -0.55%, now at $114.02.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 64 days.

What The Experts Say On Dell Technologies

In the last month, 5 experts released ratings on this stock with an average target price of $117.8.

• An analyst from Loop Capital downgraded its action to Buy with a price target of $125.
• Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Dell Technologies with a target price of $129.
• Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Dell Technologies with a target price of $128.
• An analyst from Barclays has decided to maintain their Underweight rating on Dell Technologies, which currently sits at a price target of $94.
• An analyst from UBS has decided to maintain their Buy rating on Dell Technologies, which currently sits at a price target of $113.

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.

Posted In: DELL