Spotlight on NRG Energy: Analyzing the Surge in Options Activity

Author: Benzinga Insights | June 06, 2024 02:31pm

Financial giants have made a conspicuous bearish move on NRG Energy. Our analysis of options history for NRG Energy (NYSE:NRG) revealed 11 unusual trades.

Delving into the details, we found 27% of traders were bullish, while 72% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $449,103, and 3 were calls, valued at $430,660.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $65.0 to $100.0 for NRG Energy over the last 3 months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in NRG Energy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to NRG Energy's substantial trades, within a strike price spectrum from $65.0 to $100.0 over the preceding 30 days.

NRG Energy 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
NRG	CALL	TRADE	BEARISH	01/17/25	$4.5	$4.2	$4.3	$100.00	$344.0K	1.7K	0
NRG	PUT	TRADE	BULLISH	07/19/24	$3.4	$3.1	$3.1	$75.00	$155.0K	1.3K	1.1K
NRG	PUT	SWEEP	BULLISH	07/19/24	$3.5	$3.3	$3.3	$75.00	$64.9K	1.3K	482
NRG	PUT	SWEEP	BEARISH	07/19/24	$3.2	$3.1	$3.2	$75.00	$64.4K	1.3K	502
NRG	CALL	SWEEP	BEARISH	01/17/25	$3.8	$3.6	$3.8	$100.00	$50.1K	1.7K	942

About NRG Energy

NRG Energy is one of the largest retail energy providers in the us, with 6 million customers. Vivint Smart Home, which NRG acquired in 2023, has 2 million home services customers. NRG also is one of the largest us independent power producers, with 13 gigawatts of coal, gas, and oil power generation capacity primarily in Texas. NRG exited Chapter 11 bankruptcy as a stand-alone entity in December 2003.

Following our analysis of the options activities associated with NRG Energy, we pivot to a closer look at the company's own performance.

NRG Energy's Current Market Status

• Currently trading with a volume of 2,545,549, the NRG's price is down by -4.84%, now at $77.6.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 61 days.

Expert Opinions on NRG Energy

4 market experts have recently issued ratings for this stock, with a consensus target price of $93.75.

• An analyst from Morgan Stanley persists with their Equal-Weight rating on NRG Energy, maintaining a target price of $83.
• Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on NRG Energy with a target price of $110.
• Maintaining their stance, an analyst from BMO Capital continues to hold a Market Perform rating for NRG Energy, targeting a price of $82.
• An analyst from Wells Fargo has decided to maintain their Overweight rating on NRG Energy, which currently sits at a price target of $100.

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 NRG Energy, Benzinga Pro gives you real-time options trades alerts.

Posted In: NRG