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Investors with a lot of money to spend have taken a bullish stance on Costco Wholesale (NASDAQ:COST).
And retail traders should know.
We noticed this today when the trades 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 COST, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 15 uncommon options trades for Costco Wholesale.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 40%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $220,220, and 12 are calls, for a total amount of $739,956.
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $600.0 and $1005.0 for Costco Wholesale, spanning the last three months.
In terms of liquidity and interest, the mean open interest for Costco Wholesale options trades today is 334.38 with a total volume of 950.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Costco Wholesale's big money trades within a strike price range of $600.0 to $1005.0 over the last 30 days.
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
---|---|---|---|---|---|---|---|---|---|---|---|
COST | CALL | SWEEP | NEUTRAL | 08/16/24 | $8.3 | $7.55 | $7.93 | $880.00 | $198.5K | 960 | 7 |
COST | PUT | TRADE | BEARISH | 01/16/26 | $168.5 | $164.25 | $168.5 | $1005.00 | $168.5K | 3 | 0 |
COST | CALL | SWEEP | BULLISH | 07/26/24 | $21.05 | $19.05 | $21.05 | $835.00 | $92.6K | 31 | 0 |
COST | CALL | TRADE | BEARISH | 10/18/24 | $252.85 | $248.45 | $248.45 | $600.00 | $74.5K | 19 | 1 |
COST | CALL | SWEEP | BULLISH | 08/16/24 | $7.9 | $7.65 | $7.9 | $885.00 | $72.6K | 996 | 350 |
Costco operates a membership-based, no-frills retail model, predicated on offering a select product assortment in bulk quantities at bargain prices. The firm avoids maintaining costly product displays by keeping inventory on pallets and limits distribution expenses by storing its inventory at point of sale in the warehouse. Given Costco's frugal cost structure, the firm is able to price its merchandise below competing retailers, driving high sales volume per warehouse and allowing the retailer to generate strong profits on thin margins. Costco operates over 600 warehouses in the United States and enjoys over 60% market share in the domestic warehouse club industry. Internationally, Costco operates another 270 warehouses, primarily in markets such as Canada, Mexico, Japan, and the UK.
Following our analysis of the options activities associated with Costco Wholesale, we pivot to a closer look at the company's own performance.
5 market experts have recently issued ratings for this stock, with a consensus target price of $931.4.
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 Costco Wholesale options trades with real-time alerts from Benzinga Pro.
Posted In: COST