High-rolling investors have positioned themselves bullish on Enovix (NASDAQ:ENVX), and it's important for retail traders to take note.\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in ENVX often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Enovix. This is not a typical pattern.
The sentiment among these major traders is split, with 75% bullish and 25% bearish. Among all the options we identified, there was one put, amounting to $105,105, and 7 calls, totaling $343,470.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $5.0 to $13.0 for Enovix over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Enovix options trades today is 2783.88 with a total volume of 1,419.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Enovix's big money trades within a strike price range of $5.0 to $13.0 over the last 30 days.
Enovix 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ENVX | PUT | SWEEP | BULLISH | 04/17/25 | $3.95 | $3.85 | $3.85 | $13.00 | $105.1K | 294 | 274 |
| ENVX | CALL | SWEEP | BEARISH | 04/17/25 | $3.7 | $3.65 | $3.65 | $9.00 | $100.4K | 749 | 276 |
| ENVX | CALL | SWEEP | BEARISH | 04/17/25 | $3.5 | $3.45 | $3.45 | $10.00 | $97.3K | 1.3K | 283 |
| ENVX | CALL | TRADE | BULLISH | 11/01/24 | $2.13 | $2.13 | $2.13 | $9.00 | $31.9K | 1.1K | 150 |
| ENVX | CALL | TRADE | BULLISH | 01/17/25 | $6.15 | $5.25 | $5.88 | $5.00 | $29.4K | 3.7K | 50 |
About Enovix
Enovix Corp is engaged in the business of advanced silicon-anode lithium-ion battery development and production. It is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable the widespread utilization of renewable energy.
In light of the recent options history for Enovix, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Enovix
- With a volume of 13,865,343, the price of ENVX is down -6.68% at $9.92.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 111 days.
Professional Analyst Ratings for Enovix
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $23.333333333333332.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.* Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Enovix, targeting a price of $15. * An analyst from Benchmark downgraded its action to Buy with a price target of $25. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $30.
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.
