Financial giants have made a conspicuous bullish move on Canopy Gwth. Our analysis of options history for Canopy Gwth (NASDAQ:CGC) revealed 10 unusual trades.
Delving into the details, we found 60% of traders were bullish, while 20% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $162,340, and 8 were calls, valued at $496,837.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $7.0 to $12.0 for Canopy Gwth during the past quarter.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Canopy Gwth stands at 2499.33, with a total volume reaching 11,243.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Canopy Gwth, situated within the strike price corridor from $7.0 to $12.0, throughout the last 30 days.
Canopy Gwth Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CGC | CALL | SWEEP | BEARISH | 07/19/24 | $1.11 | $1.1 | $1.1 | $9.00 | $165.0K | 4.2K | 3.0K |
| CGC | PUT | TRADE | NEUTRAL | 05/31/24 | $3.15 | $2.82 | $3.0 | $12.00 | $134.1K | 72 | 447 |
| CGC | CALL | SWEEP | BEARISH | 01/16/26 | $2.13 | $1.41 | $1.41 | $10.00 | $119.1K | 5.5K | 657 |
| CGC | CALL | TRADE | BULLISH | 01/17/25 | $2.71 | $2.28 | $2.6 | $7.00 | $52.0K | 3.2K | 400 |
| CGC | CALL | SWEEP | BULLISH | 01/16/26 | $1.4 | $1.39 | $1.4 | $10.00 | $48.0K | 5.5K | 2.2K |
About Canopy Gwth
Canopy Growth, headquartered in Smiths Falls, Canada, cultivates and sells medicinal and recreational cannabis, and hemp, through a portfolio of brands that include Doja, 7ACRES, Tweed, and Deep Space. Its non-THC products include skincare products under Martha Stewart CBD and Storz & Bickel vaporizers. Canopy growth is attempting to merge its U.S. assets into a separately operated holding company, Canopy USA, which will not be consolidated into the Canadian company's financials.
Following our analysis of the options activities associated with Canopy Gwth, we pivot to a closer look at the company's own performance.
Present Market Standing of Canopy Gwth
- With a trading volume of 3,499,963, the price of CGC is up by 0.33%, reaching $9.14.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 6 days from now.
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 Canopy Gwth options trades with real-time alerts from Benzinga Pro.