High-rolling investors have positioned themselves bearish on Energy Transfer (NYSE:ET), 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 ET often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 11 options trades for Energy Transfer. This is not a typical pattern.
The sentiment among these major traders is split, with 45% bullish and 54% bearish. Among all the options we identified, there was one put, amounting to $34,240, and 10 calls, totaling $414,464.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $10.0 to $15.5 for Energy Transfer during the past quarter.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Energy Transfer'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 Energy Transfer's whale activity within a strike price range from $10.0 to $15.5 in the last 30 days.
Energy Transfer 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ET | CALL | SWEEP | BEARISH | 07/19/24 | $0.96 | $0.77 | $0.79 | $15.00 | $63.2K | 13.8K | 67 |
| ET | CALL | TRADE | BULLISH | 05/03/24 | $0.29 | $0.26 | $0.28 | $15.50 | $58.3K | 3.5K | 609 |
| ET | CALL | SWEEP | NEUTRAL | 10/18/24 | $1.77 | $1.76 | $1.77 | $14.00 | $53.1K | 717 | 0 |
| ET | CALL | SWEEP | BULLISH | 07/19/24 | $1.79 | $1.53 | $1.79 | $14.00 | $44.7K | 23.8K | 10 |
| ET | CALL | SWEEP | BULLISH | 12/20/24 | $1.8 | $1.54 | $1.8 | $14.00 | $43.2K | 601 | 0 |
About Energy Transfer
Energy Transfer owns a large platform of crude oil, natural gas, and natural gas liquid assets primarily in Texas and the U.S. midcontinent region. It also has gathering and processing facilities, one of the largest fractionation facilities in the U.S., and fuel distribution. Energy Transfer also owns the Lake Charles gas liquefaction facility. It combined its publicly traded limited and general partnerships in October 2018.
After a thorough review of the options trading surrounding Energy Transfer, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Energy Transfer
- Trading volume stands at 8,301,580, with ET's price up by 2.3%, positioned at $15.58.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 20 days.
Professional Analyst Ratings for Energy Transfer
In the last month, 1 experts released ratings on this stock with an average target price of $19.0.
- An analyst from Mizuho has revised its rating downward to Buy, adjusting the price target to $19.
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 Energy Transfer options trades with real-time alerts from Benzinga Pro.