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News

This Is What Whales Are Betting On Trade Desk

Author: Benzinga Insights | May 16, 2024 10:16am

Investors with a lot of money to spend have taken a bullish stance on Trade Desk (NASDAQ:TTD).

And retail traders should know.

We noticed this today when the positions 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 TTD, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 9 options trades for Trade Desk.

This isn't normal.

The overall sentiment of these big-money traders is split between 44% bullish and 44%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $28,425, and 8, calls, for a total amount of $386,100.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $60.0 to $110.0 for Trade Desk over the recent three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Trade Desk's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Trade Desk's significant trades, within a strike price range of $60.0 to $110.0, over the past month.

Trade Desk Call and Put Volume: 30-Day Overview

Options Call Chart

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
TTD CALL TRADE NEUTRAL 01/16/26 $24.4 $23.2 $23.85 $100.00 $90.6K 294 45
TTD CALL TRADE BEARISH 08/16/24 $18.4 $18.2 $18.2 $80.00 $72.8K 361 50
TTD CALL TRADE BULLISH 01/16/26 $23.6 $23.6 $23.6 $100.00 $59.0K 294 128
TTD CALL TRADE BEARISH 08/16/24 $4.3 $4.1 $4.15 $105.00 $41.5K 570 101
TTD CALL TRADE BULLISH 06/21/24 $34.7 $34.3 $34.7 $60.00 $34.7K 481 25

About Trade Desk

The Trade Desk provides a self-service platform that helps advertisers and ad agencies programmatically find and purchase digital ad inventory (display, video, audio, and social) on different devices like computers, smartphones, and connected TVs. It utilizes data to optimize the performance of ad impressions purchased. The firm's platform is referred to as a demand-side platform in the digital ad industry. The firm generates its revenue from fees based on a percentage of what its clients spend on advertising.

In light of the recent options history for Trade Desk, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Trade Desk

  • With a trading volume of 3,411,692, the price of TTD is up by 4.76%, reaching $94.55.
  • Current RSI values indicate that the stock is may be approaching overbought.
  • Next earnings report is scheduled for 83 days from now.

Professional Analyst Ratings for Trade Desk

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $106.2.

  • Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Trade Desk with a target price of $105.
  • An analyst from DA Davidson persists with their Buy rating on Trade Desk, maintaining a target price of $104.
  • An analyst from Piper Sandler has revised its rating downward to Overweight, adjusting the price target to $110.
  • An analyst from Citigroup has decided to maintain their Buy rating on Trade Desk, which currently sits at a price target of $112.
  • Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $100.

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 Trade Desk options trades with real-time alerts from Benzinga Pro.

Posted In: TTD