Smart Money Is Betting Big In APP Options

Author: Benzinga Insights | August 14, 2024 12:30pm

Investors with a lot of money to spend have taken a bullish stance on AppLovin (NASDAQ:APP).

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 APP, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 29 options trades for AppLovin.

This isn't normal.

The overall sentiment of these big-money traders is split between 62% bullish and 31%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $50,400, and 28, calls, for a total amount of $2,718,838.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $60.0 to $125.0 for AppLovin 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 AppLovin's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across AppLovin's significant trades, within a strike price range of $60.0 to $125.0, over the past month.

AppLovin Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
APP	CALL	TRADE	BULLISH	01/17/25	$6.4	$6.1	$6.3	$100.00	$630.0K	1.4K	1.0K
APP	CALL	SWEEP	BULLISH	01/16/26	$34.9	$34.3	$34.3	$62.50	$522.4K	38	151
APP	CALL	SWEEP	BEARISH	02/21/25	$4.0	$3.4	$3.4	$125.00	$230.2K	18	682
APP	CALL	SWEEP	BEARISH	02/21/25	$6.6	$6.0	$6.0	$110.00	$196.2K	54	327
APP	CALL	SWEEP	BEARISH	02/21/25	$7.1	$7.0	$7.1	$105.00	$99.4K	21	142

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.

Having examined the options trading patterns of AppLovin, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is AppLovin Standing Right Now?

• With a volume of 2,560,920, the price of APP is up 5.5% at $84.18.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 84 days.

Expert Opinions on AppLovin

3 market experts have recently issued ratings for this stock, with a consensus target price of $98.33333333333333.

• Consistent in their evaluation, an analyst from Wedbush keeps a Outperform rating on AppLovin with a target price of $90.
• An analyst from Wedbush downgraded its action to Outperform with a price target of $100.
• Reflecting concerns, an analyst from Oppenheimer lowers its rating to Outperform with a new price target of $105.

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 AppLovin options trades with real-time alerts from Benzinga Pro.

Posted In: APP