Deep-pocketed investors have adopted a bearish approach towards Procter & Gamble (NYSE:PG), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in PG usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Procter & Gamble. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 36% leaning bullish and 45% bearish. Among these notable options, 8 are puts, totaling $467,850, and 3 are calls, amounting to $154,560.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $160.0 to $170.0 for Procter & Gamble during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Procter & Gamble stands at 2145.25, with a total volume reaching 2,448.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Procter & Gamble, situated within the strike price corridor from $160.0 to $170.0, throughout the last 30 days.
Procter & Gamble Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PG | PUT | SWEEP | BEARISH | 07/19/24 | $5.8 | $5.8 | $5.8 | $170.00 | $116.0K | 606 | 712 |
| PG | PUT | SWEEP | BULLISH | 07/19/24 | $4.7 | $4.6 | $4.7 | $170.00 | $70.5K | 606 | 189 |
| PG | PUT | SWEEP | BEARISH | 07/19/24 | $4.9 | $4.75 | $4.75 | $170.00 | $69.3K | 606 | 343 |
| PG | CALL | SWEEP | BULLISH | 01/17/25 | $6.2 | $6.15 | $6.2 | $170.00 | $62.0K | 4.6K | 11 |
| PG | CALL | SWEEP | BULLISH | 01/17/25 | $6.2 | $6.15 | $6.2 | $170.00 | $62.0K | 4.6K | 11 |
About Procter & Gamble
Since its founding in 1837, Procter & Gamble has become one of the world's largest consumer product manufacturers, generating more than $80 billion in annual sales. It operates with a lineup of leading brands, including more than 20 that generate north of $1 billion each in annual global sales, such as Tide laundry detergent, Charmin toilet paper, Pantene shampoo, and Pampers diapers. P&G sold its last remaining food brand, Pringles, to Kellogg in calendar 2012. Sales outside its home turf represent around 53% of the firm's consolidated total.
After a thorough review of the options trading surrounding Procter & Gamble, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Procter & Gamble
- With a volume of 2,555,980, the price of PG is down -1.67% at $164.68.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 44 days.
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 Procter & Gamble with Benzinga Pro for real-time alerts.