Deep-pocketed investors have adopted a bearish approach towards AppLovin (NASDAQ:APP), 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 APP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for AppLovin. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 36% leaning bullish and 54% bearish. Among these notable options, 5 are puts, totaling $699,984, and 6 are calls, amounting to $278,842.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $100.0 and $140.0 for AppLovin, spanning the last three 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 AppLovin'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 AppLovin's whale trades within a strike price range from $100.0 to $140.0 in the last 30 days.
AppLovin Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| APP | PUT | SWEEP | BEARISH | 01/17/25 | $7.4 | $7.2 | $7.37 | $110.00 | $283.9K | 640 | 416 |
| APP | PUT | SWEEP | BULLISH | 11/15/24 | $13.6 | $13.5 | $13.5 | $130.00 | $182.2K | 19 | 0 |
| APP | PUT | SWEEP | BULLISH | 11/15/24 | $8.6 | $8.4 | $8.4 | $120.00 | $168.0K | 403 | 268 |
| APP | CALL | TRADE | BEARISH | 01/17/25 | $28.2 | $27.5 | $27.6 | $105.00 | $69.0K | 1.8K | 27 |
| APP | CALL | SWEEP | BEARISH | 09/20/24 | $1.2 | $1.15 | $1.15 | $125.00 | $56.2K | 9.5K | 1.2K |
About AppLovin
AppLovin Corp is a mobile app technology company. It focuses on growing the mobile app ecosystem by enabling the success of mobile app developers. The company's software solutions provide tools for mobile app developers to grow their businesses by automating and optimizing the marketing and monetization of their applications.
In light of the recent options history for AppLovin, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is AppLovin Standing Right Now? With a trading volume of 2,364,096, the price of APP is up by 1.23%, reaching $125.53. Current RSI values indicate that the stock is may be overbought. Next earnings report is scheduled for 47 days from now. Expert Opinions on AppLovin
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $127.2.
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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. * An analyst from Citigroup persists with their Buy rating on AppLovin, maintaining a target price of $155. * An analyst from B of A Securities has decided to maintain their Buy rating on AppLovin, which currently sits at a price target of $120. * Showing optimism, an analyst from UBS upgrades its rating to Buy with a revised price target of $145. * An analyst from BTIG has decided to maintain their Buy rating on AppLovin, which currently sits at a price target of $150. * Maintaining their stance, an analyst from Benchmark continues to hold a Sell rating for AppLovin, targeting a price of $66.
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 AppLovin options trades with real-time alerts from Benzinga Pro.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
