Investors with a lot of money to spend have taken a bullish stance on Southern (NYSE:SO).
And retail traders should know.
We noticed this today when the positions 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 SO, it often means somebody knows something is about to happen.
Today, Benzinga’s options scanner spotted 8 options trades for Southern.
This isn’t normal.
The overall sentiment of these big-money traders is split between 87% bullish and 12%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $31,680, and 7, calls, for a total amount of $273,113.
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 $40.0 and $82.5 for Southern, spanning the last three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Southern options trades today is 1901.6 with a total volume of 1,983.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Southern’s big money trades within a strike price range of $40.0 to $82.5 over the last 30 days.
Southern 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SO | CALL | SWEEP | BULLISH | 05/24/24 | $8.8 | $8.7 | $8.8 | $71.00 | $60.7K | 286 | 166 |
| SO | CALL | TRADE | BULLISH | 11/15/24 | $41.0 | $38.3 | $40.57 | $40.00 | $44.6K | 41 | 18 |
| SO | CALL | SWEEP | BEARISH | 08/16/24 | $1.65 | $1.5 | $1.5 | $82.50 | $37.2K | 4.1K | 253 |
| SO | CALL | SWEEP | BULLISH | 06/21/24 | $4.8 | $4.5 | $4.8 | $75.00 | $35.0K | 4.8K | 692 |
| SO | CALL | SWEEP | BULLISH | 06/21/24 | $4.9 | $4.7 | $4.9 | $75.00 | $33.8K | 4.8K | 185 |
About Southern
Southern is one of the largest utilities in the U.S. The company serves 9 million customers with vertically integrated electric utilities in three states and natural gas distribution utilities in four states. It owns 50 gigawatts of rate-regulated generating capacity, primarily for serving customers in Georgia, Alabama, and Mississippi. Subsidiary Southern Power owns 13 gigawatts of natural gas generation and renewable energy…
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