Investors with significant funds have taken a bearish position in Equinix EQIX, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in EQIX usually indicates foreknowledge of upcoming events.
Today, Benzinga’s options scanner identified 8 options transactions for Equinix. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 37% being bullish and 62% bearish. Of all the options we discovered, 7 are puts, valued at $1,741,480, and there was a single call, worth $32,500.
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 $860.0 to $910.0 for Equinix over the last 3 months.
Insights into 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 Equinix’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 Equinix’s whale activity within a strike price range from $860.0 to $910.0 in the last 30 days.
Equinix 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| EQIX | PUT | TRADE | BEARISH | 05/17/24 | $900.00 | $727.0K | 11 | 200 |
| EQIX | PUT | TRADE | BEARISH | 04/19/24 | $910.00 | $293.4K | 10 | 100 |
| EQIX | PUT | TRADE | BULLISH | 04/19/24 | $900.00 | $270.0K | 29 | 150 |
| EQIX | PUT | TRADE | NEUTRAL | 04/19/24 | $900.00 | $232.1K | 29 | 350 |
| EQIX | PUT | TRADE | BEARISH | 04/19/24 | $900.00 | $130.2K | 29 | 100 |
About Equinix
Equinix operates 260 data centers in 71 markets worldwide. It generates 44% of total revenue in the Americas, 35% in Europe, the Middle East, and Africa, and 21% in Asia-Pacific. The firm has more than 10,000 customers, including 2,100 network providers, that are dispersed over five verticals: cloud and IT services, content providers, network and mobile services, financial services, and enterprise. About 70% of Equinix’s revenue comes from renting space to tenants and related services, and more than 15% comes from interconnection. Equinix operates as a real estate investment trust.
Following our analysis of the options activities associated with Equinix, we pivot to a closer look at the company’s own performance.
Current Position of Equinix
- With a trading volume of 122,776, the price of EQIX is down by 0.0%, reaching $893.56.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 50 days from now.
What The Experts Say On Equinix
In the last month, 5 experts released ratings on this stock with an average target price of $714.4.
- Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Equinix with a target price of $950.
- Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Equinix with a target price of $91.
- Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Equinix, targeting a price of $781.
- An analyst from Wells Fargo persists with their Equal-Weight rating on Equinix, maintaining a target price of $825.
- An analyst from BMO Capital has decided to maintain their Outperform rating on Equinix, which currently sits at a price target of $925.
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 Equinix with Benzinga Pro for real-time alerts.
