Behind the Scenes of AppLovin's Latest Options Trends

Author: Benzinga Insights | August 21, 2024 03:31pm

Financial giants have made a conspicuous bearish move on AppLovin. Our analysis of options history for AppLovin (NASDAQ:APP) revealed 11 unusual trades.

Delving into the details, we found 18% of traders were bullish, while 63% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $57,200, and 9 were calls, valued at $2,315,850.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $65.0 to $115.0 for AppLovin over the recent three months.

Analyzing 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 $65.0 to $115.0, over the past month.

AppLovin Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
APP	CALL	SWEEP	BEARISH	03/21/25	$14.6	$14.1	$14.1	$92.50	$611.9K	0	434
APP	CALL	SWEEP	BEARISH	02/21/25	$14.6	$14.3	$14.3	$90.00	$607.7K	78	425
APP	CALL	TRADE	BEARISH	03/21/25	$7.9	$7.5	$7.5	$110.00	$562.5K	0	750
APP	CALL	SWEEP	BEARISH	02/21/25	$14.4	$14.1	$14.1	$90.00	$352.5K	78	675
APP	CALL	TRADE	BEARISH	09/20/24	$2.15	$2.0	$2.02	$95.00	$40.4K	1.3K	274

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 1,980,608, the APP's price is up by 3.32%, now at $89.45.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 77 days.

What Analysts Are Saying About AppLovin

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

• An analyst from Oppenheimer downgraded its action to Outperform with a price target of $105.
• Maintaining their stance, an analyst from Wedbush continues to hold a Outperform rating for AppLovin, targeting a price of $90.
• 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