Deep-pocketed investors have adopted a bearish approach towards Deckers Outdoor (NYSE:DECK), 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 DECK usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Deckers Outdoor. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 50% bearish. Among these notable options, 5 are puts, totaling $336,418, and 5 are calls, amounting to $214,030.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $410.0 to $950.0 for Deckers Outdoor over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Deckers Outdoor's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Deckers Outdoor's whale trades within a strike price range from $410.0 to $950.0 in the last 30 days.
Deckers Outdoor 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DECK | PUT | SWEEP | BEARISH | 07/19/24 | $92.8 | $91.0 | $91.0 | $950.00 | $136.4K | 77 | 1 |
| DECK | PUT | TRADE | BULLISH | 12/20/24 | $116.9 | $114.0 | $114.0 | $950.00 | $91.2K | 23 | 0 |
| DECK | PUT | TRADE | BULLISH | 12/20/24 | $78.9 | $75.8 | $75.8 | $865.00 | $53.0K | 0 | 0 |
| DECK | CALL | TRADE | NEUTRAL | 12/20/24 | $487.0 | $477.0 | $481.09 | $410.00 | $48.1K | 3 | 1 |
| DECK | CALL | SWEEP | NEUTRAL | 08/16/24 | $49.4 | $43.2 | $46.67 | $880.00 | $46.7K | 6 | 2 |
About Deckers Outdoor
Deckers Outdoor Corp designs and sells casual and performance footwear, apparel, and accessories. Primary brands include UGG, Teva, and Sanuk. The company distributes Majority of its products through its wholesale business, but it also has a substantial direct-to-consumer business with its company-owned retail stores and websites. Majority of its sales are in the United States, although the company also has retail stores and distributors throughout Europe, Asia, Canada, and Latin America. It has structured their reporting around six segments which inlcudes the wholesale operations of specific brands like UGG, HOKA, Teva, Sanuk, and Other brands, alongside a segment focused on direct-to-consumer (DTC) operations.
Having examined the options trading patterns of Deckers Outdoor, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Deckers Outdoor
- Trading volume stands at 350,377, with DECK's price down by -0.96%, positioned at $930.0.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 15 days.
Expert Opinions on Deckers Outdoor
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $1200.0.
- Maintaining their stance, an analyst from BTIG continues to hold a Buy rating for Deckers Outdoor, targeting a price of $1200.
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.