A whale with a lot of money to spend has taken a noticeably bearish stance on Energy Transfer.
Looking at options history for Energy Transfer (NYSE:ET) we detected 26 strange trades.
If we consider the specifics of each trade, it is accurate to state that 26% of the investors opened trades with bullish expectations and 73% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $1,429,555 and 20, calls, for a total amount of $905,764.
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 $5.0 to $12.0 for Energy Transfer over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Energy Transfer options trades today is 20450.46 with a total volume of 41,541.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Energy Transfer's big money trades within a strike price range of $5.0 to $12.0 over the last 30 days.
Energy Transfer Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ET | PUT | TRADE | BEARISH | 01/20/23 | $11.00 | $585.0K | 2.2K | 3.5K |
| ET | PUT | TRADE | BEARISH | 10/21/22 | $11.00 | $372.6K | 3.7K | 2.7K |
| ET | PUT | SWEEP | BEARISH | 01/20/23 | $10.00 | $254.6K | 24.0K | 5.0K |
| ET | PUT | SWEEP | BULLISH | 10/21/22 | $12.00 | $128.8K | 1.3K | 623 |
| ET | CALL | TRADE | BEARISH | 01/19/24 | $10.00 | $100.0K | 30.5K | 908 |
Where Is Energy Transfer Standing Right Now?
- With a volume of 20,731,315, the price of ET is down -4.06% at $10.39.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 84 days.
What The Experts Say On Energy Transfer:
- Morgan Stanley has decided to maintain their Overweight rating on Energy Transfer, which currently sits at a price target of $15.
- Raymond James has decided to maintain their Strong Buy rating on Energy Transfer, which currently sits at a price target of $15.
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.
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