Investors with a lot of money to spend have taken a bullish stance on SoundHound AI (NASDAQ:SOUN).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SOUN, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 11 uncommon options trades for SoundHound AI.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 27%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $119,530, and 8 are calls, for a total amount of $576,325.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $8.0 to $14.0 for SoundHound AI over the last 3 months.
Insights into Volume & Open Interest
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 SoundHound AI'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 SoundHound AI's whale trades within a strike price range from $8.0 to $14.0 in the last 30 days.
SoundHound AI Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SOUN | CALL | SWEEP | BULLISH | 01/17/25 | $2.24 | $2.18 | $2.18 | $14.00 | $187.2K | 1.4K | 733 |
| SOUN | CALL | TRADE | NEUTRAL | 01/17/25 | $4.35 | $4.25 | $4.3 | $10.00 | $164.2K | 24.7K | 593 |
| SOUN | CALL | TRADE | BULLISH | 01/16/26 | $6.8 | $6.6 | $6.74 | $10.00 | $67.4K | 11.2K | 101 |
| SOUN | PUT | TRADE | BULLISH | 04/17/25 | $3.1 | $3.05 | $3.05 | $12.00 | $61.0K | 1.0K | 200 |
| SOUN | CALL | SWEEP | NEUTRAL | 12/20/24 | $5.7 | $5.6 | $5.65 | $8.50 | $34.4K | 1.1K | 127 |
About SoundHound AI
SoundHound AI Inc is an innovator of conversational intelligence, offering an independent Voice AI platform that enables businesses across industries to deliver high-quality conversational experiences to customers.
Having examined the options trading patterns of SoundHound AI, 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 SoundHound AI Trading volume stands at 25,653,697, with SOUN's price up by 3.14%, positioned at $13.98. RSI indicators show the stock to be may be overbought. Earnings announcement expected in 77 days. What Analysts Are Saying About SoundHound AI
3 market experts have recently issued ratings for this stock, with a consensus target price of $7.333333333333333.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Reflecting concerns, an analyst from Ladenburg Thalmann lowers its rating to Neutral with a new price target of $7. * Reflecting concerns, an analyst from Barclays lowers its rating to Neutral with a new price target of $7. * Maintaining their stance, an analyst from HC Wainwright & Co. continues to hold a Buy rating for SoundHound AI, targeting a price of $8.
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 SoundHound AI options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
