100s of titles, one news app for just $10 a month.
Latest Business news:
Bitcoin Evangelists Remain Enthusiastic Despite Crypto Rout
The cryptocurrency market has lost over $1.6 trillion since November, but that hasn't tempered the passion of the bitcoin evangelists.
Read news from The Economist, FT, Bloomberg and more, with one subscription
Learn More
Rising petrol prices to drag on confidence
The steady climb in petrol prices back to $2 per litre is likely to weigh on consumer confidence as it…
European Central Bank chief signals possible July rate hike
The president of the European Central Bank has given the clearest sign yet that policymakers will aim to raise interest…
World economy has 'buffer' against recession says IMF's Gopinath
While the world economy faces headwinds, current growth forecasts offer a buffer against a potential global recession, the International Monetary…
Facebook's Zuckerberg targeted in US privacy lawsuit
Washington (AFP) - Facebook founder Mark Zuckerberg was named personally in a Washington lawsuit Monday alleging he played a direct…
From analysis to good news, read the world’s best news in one place
Aramco CEO Warns of Global Oil Crunch Due to Lack of Investment
The world is facing a major oil supply crunch as most companies are afraid to invest in the sector as…
Starbucks to completely exit Russia after Ukraine invasion
New York (AFP) - Starbucks said Monday it will cease operations in Russia, shuttering its 130 cafes in the country…

What Are Whales Doing With Energy Transfer

By Benzinga Insights

Someone with a lot of money to spend has taken a bearish stance on Energy Transfer (NYSE:ET).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with ET, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 14 options trades for Energy Transfer.

This isn't normal.

The overall sentiment of these big-money traders is split between 28% bullish and 71%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $56,700, and 13, calls, for a total amount of $1,052,064..

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 33885.43 with a total volume of 41,223.00.

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 CALL TRADE NEUTRAL 01/19/24 $5.00 $127.9K 4.7K 806
ET CALL TRADE NEUTRAL 01/20/23 $7.00 $119.5K 26.2K 6.4K
ET CALL TRADE NEUTRAL 01/20/23 $7.00 $119.5K 26.2K 6.1K
ET CALL TRADE NEUTRAL 01/20/23 $7.00 $119.5K 26.2K 5.9K
ET CALL TRADE NEUTRAL 01/20/23 $7.00 $119.5K 26.2K 5.6K

Where Is Energy Transfer Standing Right Now?

  • With a volume of 18,658,796, the price of ET is down -2.88% at $11.54.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 88 days.

What The Experts Say On Energy Transfer:

  • Raymond James has decided to maintain their Strong Buy rating on Energy Transfer, which currently sits at a price target of $15.
  • Morgan Stanley has decided to maintain their Overweight 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.

If you want to stay updated on the latest options trades for {d[company_name]}, Benzinga Progives you real-time options trades alerts.

What is inkl?
The world’s most important news, from 100+ trusted global sources, in one place.
Morning Edition
Your daily
news overview

Morning Edition ensures you start your day well informed.

No paywalls, no clickbait, no ads
Enjoy beautiful reading

Content is only half the story. The world's best news experience is free from distraction: ad-free, clickbait-free, and beautifully designed.

Expert Curation
The news you need to know

Stories are ranked by proprietary algorithms based on importance and curated by real news journalists to ensure that you receive the most important stories as they break.