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 12 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 33% leaning bullish and 66% bearish. Among these notable options, 10 are puts, totaling $606,201, and 2 are calls, amounting to $496,789.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $80.0 to $100.0 for Trade Desk over the last 3 months.
Volume & Open Interest Development
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 Trade Desk'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 Trade Desk's whale trades within a strike price range from $80.0 to $100.0 in the last 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 | $4.7 | $4.4 | $4.7 | $100.00 | $467.2K | 3.1K | 2 |
| TTD | PUT | SWEEP | BEARISH | 08/09/24 | $6.4 | $6.35 | $6.4 | $97.00 | $181.7K | 276 | 80 |
| TTD | PUT | SWEEP | BEARISH | 01/17/25 | $9.15 | $9.0 | $9.15 | $92.50 | $101.5K | 1.0K | 304 |
| TTD | PUT | SWEEP | BEARISH | 01/17/25 | $9.35 | $9.2 | $9.35 | $92.50 | $71.0K | 1.0K | 0 |
| TTD | PUT | SWEEP | BEARISH | 01/17/25 | $9.2 | $9.05 | $9.15 | $92.50 | $53.9K | 1.0K | 304 |
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.
In light of the recent options history for Trade Desk, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Trade Desk
- With a volume of 626,346, the price of TTD is up 1.28% at $96.95.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 20 days.
Expert Opinions on Trade Desk
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $110.0.
- An analyst from Oppenheimer persists with their Outperform rating on Trade Desk, maintaining a target price of $120.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $100.
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 Trade Desk with Benzinga Pro for real-time alerts.