Deep-pocketed investors have adopted a bearish approach towards Trade Desk (NASDAQ:TTD), 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 TTD usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Trade Desk. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 0% leaning bullish and 100% bearish. Among these notable options, 3 are puts, totaling $81,448, and 5 are calls, amounting to $1,468,204.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $70.0 and $100.0 for Trade Desk, spanning the last three months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Trade Desk's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Trade Desk's substantial trades, within a strike price spectrum from $70.0 to $100.0 over the preceding 30 days.
Trade Desk 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TTD | CALL | SWEEP | BEARISH | 08/16/24 | $28.65 | $28.1 | $28.1 | $70.00 | $741.8K | 1.0K | 341 |
| TTD | CALL | TRADE | BEARISH | 08/16/24 | $28.7 | $28.0 | $28.2 | $70.00 | $423.0K | 1.0K | 170 |
| TTD | CALL | SWEEP | BEARISH | 08/16/24 | $28.75 | $28.2 | $28.48 | $70.00 | $227.7K | 1.0K | 0 |
| TTD | CALL | TRADE | BEARISH | 08/16/24 | $28.4 | $28.1 | $28.1 | $70.00 | $50.5K | 1.0K | 322 |
| TTD | CALL | SWEEP | BEARISH | 01/17/25 | $8.85 | $8.65 | $8.75 | $110.00 | $34.7K | 1.3K | 0 |
About Trade Desk
The Trade Desk provides a self-service platform that helps advertisers and ad agencies programmatically find and purchase digital ad inventory (display, video, audio, and social) on different devices like computers, smartphones, and connected TVs. It utilizes data to optimize the performance of ad impressions purchased. The firm's platform is referred to as a demand-side platform in the digital ad industry. The firm generates its revenue from fees based on a percentage of what its clients spend on advertising.
Following our analysis of the options activities associated with Trade Desk, we pivot to a closer look at the company's own performance.
Trade Desk's Current Market Status
- With a volume of 568,179, the price of TTD is down -0.84% at $96.89.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 44 days.
What The Experts Say On Trade Desk
In the last month, 2 experts released ratings on this stock with an average target price of $110.0.
- In a cautious move, an analyst from Wedbush downgraded its rating to Outperform, setting a price target of $110.
- An analyst from Piper Sandler has decided to maintain their Overweight rating on Trade Desk, which currently sits at a price target of $110.
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 Trade Desk options trades with real-time alerts from Benzinga Pro.