Pilgrims Pride Options Trading: A Deep Dive into Market Sentiment
Whales with a lot of money to spend have taken a noticeably bullish stance on Pilgrims Pride.
Looking at options history for Pilgrims Pride PPC we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 58% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $92,736 and 9, calls, for a total amount of $790,404.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $42.0 to $45.0 for Pilgrims Pride over the last 3 months.
Volume & Open Interest Development
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 Pilgrims Pride’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 Pilgrims Pride’s whale activity within a strike price range from $42.0 to $45.0 in the last 30 days.
Pilgrims Pride Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PPC | CALL | SWEEP | BULLISH | 11/15/24 | $3.1 | $2.95 | $3.05 | $45.00 | $152.1K | 645 | 1.0K |
| PPC | CALL | SWEEP | BEARISH | 11/15/24 | $3.8 | $3.6 | $3.7 | $44.00 | $118.4K | 299 | 1.5K |
| PPC | CALL | SWEEP | BEARISH | 11/15/24 | $3.3 | $3.2 | $3.2 | $44.00 | $109.4K | 299 | 0 |
| PPC | CALL | TRADE | BULLISH | 11/15/24 | $3.5 | $3.1 | $3.4 | $44.00 | $98.9K | 299 | 1.0K |
| PPC | CALL | TRADE | NEUTRAL | 11/15/24 | $3.2 | $3.0 | $3.1 | $45.00 | $77.1K | 645 | 512 |
About Pilgrims Pride
Pilgrim’s Pride is the second-largest poultry producer in the US (58% of 2023 sales), the UK (30% including other European sales), and Mexico (12%). Its UK and European arm also includes pork operations from the 2019 acquisition of Tulip. Pilgrim’s sells to chain restaurants, food processors, food distributors, and retail chains. most of its US and Mexican sales come from fresh chicken, while prepared chicken and pork constitute most of its UK and European sales. JBS owns more than 80% of Pilgrim’s Pride’s outstanding shares, though it failed to acquire the remaining stake in 2021 after a special board committee deemed JBS’ offer undervalued Pilgrim’s Pride.
Where Is Pilgrims Pride Standing Right Now?
- Currently trading with a volume of 1,163,966, the PPC’s price is down by 0.0%, now at $47.86.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 20 days.
What Analysts Are Saying About Pilgrims Pride
2 market experts have recently issued ratings for this stock, with a consensus target price of $44.0.
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* Reflecting concerns, an analyst from Stephens & Co. lowers its rating to Equal-Weight with a new price target of $43.
* Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Pilgrims Pride, targeting a price of $45.
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 Pilgrims Pride options trades with real-time alerts from Benzinga Pro.
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