What the Options Market Tells Us About AppLovin

Author: Benzinga Insights | August 08, 2024 11:17am

Whales with a lot of money to spend have taken a noticeably bullish stance on AppLovin.

Looking at options history for AppLovin (NASDAQ:APP) we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 62% of the investors opened trades with bullish expectations and 25% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $85,177 and 5, calls, for a total amount of $163,100.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $66.0 to $75.0 for AppLovin over the recent three months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in AppLovin's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to AppLovin's substantial trades, within a strike price spectrum from $66.0 to $75.0 over the preceding 30 days.

AppLovin Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
APP	CALL	SWEEP	BEARISH	10/18/24	$5.9	$5.8	$5.8	$70.00	$56.2K	180	124
APP	PUT	TRADE	BULLISH	11/15/24	$12.7	$12.4	$12.4	$75.00	$29.7K	290	0
APP	CALL	SWEEP	BULLISH	08/16/24	$0.8	$0.65	$0.75	$75.00	$28.8K	1.0K	711
APP	PUT	SWEEP	BEARISH	08/16/24	$2.45	$2.4	$2.45	$67.00	$28.1K	557	128
APP	PUT	SWEEP	BULLISH	08/09/24	$1.0	$0.85	$0.88	$66.00	$27.2K	1.1K	545

About AppLovin

AppLovin Corp is a mobile app technology company. It focuses on growing the mobile app ecosystem by enabling the success of mobile app developers. The company's software solutions provide tools for mobile app developers to grow their businesses by automating and optimizing the marketing and monetization of their applications.

Where Is AppLovin Standing Right Now?

• Currently trading with a volume of 4,013,751, the APP's price is up by 5.42%, now at $70.83.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 90 days.

What The Experts Say On AppLovin

In the last month, 3 experts released ratings on this stock with an average target price of $98.33333333333333.

• An analyst from Wedbush persists with their Outperform rating on AppLovin, maintaining a target price of $90.
• An analyst from Oppenheimer has revised its rating downward to Outperform, adjusting the price target to $105.
• An analyst from Wedbush has revised its rating downward to Outperform, adjusting the price target to $100.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for AppLovin with Benzinga Pro for real-time alerts.

Posted In: APP