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This Is What Whales Are Betting On Asana

Someone with a lot of money to spend (and possibly insider knowledge) has taken a bearish stance on Asana(NYSE:ASAN). And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track...

Benzinga · 10/21/2021 12:46

Someone with a lot of money to spend (and possibly insider knowledge) has taken a bearish stance on Asana(NYSE:ASAN).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with ASAN, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 22 uncommon options trades for Asana.

This isn't normal.

The overall sentiment of these big-money traders is split between 27.27% bullish and 72.73%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $385,690, and 16 are calls, for a total amount of $1,029,997.

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 $50.0 to $165.0 for Asana over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Asana options trades today is 648.53 with a total volume of 5,133.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Asana's big money trades within a strike price range of $50.0 to $165.0 over the last 30 days.

Asana Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
ASAN CALL SWEEP BULLISH 02/18/22 $130.00 $237.1K 32 126
ASAN CALL TRADE BEARISH 11/19/21 $110.00 $171.3K 1.7K 123
ASAN PUT SWEEP NEUTRAL 11/19/21 $120.00 $162.4K 916 723
ASAN CALL TRADE BEARISH 03/18/22 $130.00 $124.5K 33 58
ASAN PUT SWEEP NEUTRAL 11/19/21 $110.00 $81.2K 1.3K 598

Where Is Asana Standing Right Now?

  • With a volume of 2,237,028, the price of ASAN is up 4.49% at $135.6.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 48 days.

What The Experts Say On Asana:

  • Keybanc has decided to maintain their Overweight rating on Asana, which currently sits at a price target of $143.0.

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.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.