Meta Platforms Unusual Options Activity

Author: Benzinga Insights | May 08, 2024 10:46am

Financial giants have made a conspicuous bullish move on Meta Platforms. Our analysis of options history for Meta Platforms (NASDAQ:META) revealed 44 unusual trades.

Delving into the details, we found 61% of traders were bullish, while 20% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $402,377, and 39 were calls, valued at $2,848,367.

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 $390.0 to $540.0 for Meta Platforms during the past quarter.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Meta Platforms options trades today is 2713.92 with a total volume of 110,274.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Meta Platforms's big money trades within a strike price range of $390.0 to $540.0 over the last 30 days.

Meta Platforms 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
META	CALL	SWEEP	NEUTRAL	06/21/24	$29.45	$29.2	$29.35	$455.00	$249.4K	2.2K	656
META	CALL	SWEEP	BULLISH	06/21/24	$29.5	$29.2	$29.2	$455.00	$213.4K	2.2K	461
META	CALL	SWEEP	BULLISH	05/10/24	$3.9	$3.8	$3.9	$475.00	$188.6K	3.4K	9.7K
META	PUT	SWEEP	BEARISH	05/17/24	$7.85	$7.7	$7.85	$470.00	$166.3K	3.5K	1.4K
META	CALL	SWEEP	BULLISH	05/10/24	$4.15	$4.0	$4.1	$475.00	$126.6K	3.4K	9.2K

About Meta Platforms

Meta is the world's largest online social network, with nearly 4 billion family of apps monthly active users. Users engage with each other in different ways, exchanging messages and sharing news events, photos, and videos. The firm's ecosystem consists mainly of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. Users can access Facebook on mobile devices and desktops. Advertising revenue represents more than 90% of the firm's total revenue, with more than 45% coming from the US and Canada and over 20% from Europe.

After a thorough review of the options trading surrounding Meta Platforms, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Meta Platforms Standing Right Now?

• With a trading volume of 3,738,395, the price of META is up by 1.01%, reaching $472.95.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 77 days from now.

What The Experts Say On Meta Platforms

In the last month, 5 experts released ratings on this stock with an average target price of $535.0.

• Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Meta Platforms with a target price of $500.
• Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Meta Platforms, targeting a price of $600.
• Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Meta Platforms with a target price of $500.
• An analyst from JMP Securities has revised its rating downward to Market Outperform, adjusting the price target to $550.
• Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on Meta Platforms with a target price of $525.

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 Meta Platforms options trades with real-time alerts from Benzinga Pro.

Posted In: META