Deep-pocketed investors have adopted a bearish approach towards Globe Life GL, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in GL usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Globe Life. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 69% bearish. Among these notable options, 4 are puts, totaling $237,206, and 9 are calls, amounting to $364,943.
Projected Price Targets
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 $105.0 for Globe Life, spanning the last three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Globe Life options trades today is 716.4 with a total volume of 2,691.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Globe Life's big money trades within a strike price range of $40.0 to $105.0 over the last 30 days.
Globe Life Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GL | CALL | SWEEP | BEARISH | 05/17/24 | $2.75 | $2.55 | $2.6 | $75.00 | $105.3K | 1.3K | 502 |
| GL | PUT | TRADE | NEUTRAL | 04/19/24 | $36.0 | $33.3 | $34.68 | $100.00 | $104.0K | 30 | 0 |
| GL | PUT | TRADE | BEARISH | 05/17/24 | $7.9 | $7.6 | $7.8 | $70.00 | $74.8K | 440 | 202 |
| GL | CALL | TRADE | BULLISH | 01/17/25 | $11.6 | $10.5 | $11.25 | $70.00 | $49.5K | 31 | 46 |
| GL | CALL | TRADE | BEARISH | 05/17/24 | $4.3 | $4.0 | $4.1 | $70.00 | $39.7K | 1.4K | 684 |
About Globe Life
Globe Life Inc is an insurance holding company. It provides a variety of life and supplemental health insurance products and annuities to a broad base of customers. The company's core operations are organized into four reportable segments: life insurance, supplemental health insurance, annuities, and investments. Investment activities, conducted by the investment segment, focus on seeking investments with a yield and term appropriate to support the insurance product obligations. These investments generally consist of fixed maturities and, over the long term, the expected yields are considered when setting insurance premium rates and product profitability expectations.
In light of the recent options history for Globe Life, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Globe Life
- Currently trading with a volume of 3,025,206, the GL's price is up by 2.68%, now at $66.74.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 3 days.
Expert Opinions on Globe Life
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $118.4.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Hold rating for Globe Life, targeting a price of $125.
- An analyst from Piper Sandler persists with their Overweight rating on Globe Life, maintaining a target price of $130.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Globe Life, targeting a price of $132.
- Maintaining their stance, an analyst from Keefe, Bruyette & Woods continues to hold a Market Perform rating for Globe Life, targeting a price of $130.
- An analyst from Evercore ISI Group persists with their In-Line rating on Globe Life, maintaining a target price of $75.
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 Globe Life 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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