Investors with a lot of money to spend have taken a bearish stance on Chubb CB.
And retail traders should know.
We noticed this today when the trades 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 CB, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for Chubb.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $720,905, and 5 are calls, for a total amount of $188,988.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $230.0 to $275.0 for Chubb over the recent three months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Chubb's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Chubb's substantial trades, within a strike price spectrum from $230.0 to $275.0 over the preceding 30 days.
Chubb Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CB | PUT | SWEEP | BEARISH | 02/16/24 | $240.00 | $661.8K | 190 | 1.9K |
| CB | CALL | TRADE | BEARISH | 02/16/24 | $250.00 | $42.0K | 1.8K | 204 |
| CB | CALL | SWEEP | BULLISH | 01/17/25 | $260.00 | $40.2K | 144 | 31 |
| CB | CALL | TRADE | BEARISH | 01/17/25 | $250.00 | $38.2K | 34 | 20 |
| CB | CALL | SWEEP | BEARISH | 01/16/26 | $275.00 | $34.9K | 412 | 18 |
About Chubb
ACE acquired Chubb in the first quarter of 2016 and assumed the Chubb name. The combination made the new Chubb one of the largest domestic property and casualty insurers, with operations in 54 countries spanning commercial and personal P&C insurance, reinsurance, and life insurance.
Present Market Standing of Chubb
- Trading volume stands at 1,496,700, with CB's price up by 0.21%, positioned at $243.29.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 0 days.
What The Experts Say On Chubb
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $242.75.
- In a cautious move, an analyst from JMP Securities downgraded its rating to Market Outperform, setting a price target of $250.
- An analyst from Goldman Sachs has revised its rating downward to Neutral, adjusting the price target to $222.
- In a cautious move, an analyst from TD Cowen downgraded its rating to Market Perform, setting a price target of $254.
- An analyst from UBS has decided to maintain their Neutral rating on Chubb, which currently sits at a price target of $245.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Chubb with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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