What whales are doing with Avis Budget

By Cameron S. Downs Last updated May 21, 2022

Someone with a lot of money to spend has taken a bearish stance on Reviews Budget Gr SELF.

And retailers should know that.

We noticed this today when the big position appeared on the history of publicly available options we track here at Benzinga.

Whether it is an institution or just a wealthy individual, we don’t know. But when something this big happens with CAR, it often means someone knows something is about to happen.

Today, Benzinga’s options scanner spotted 25 options trades for Avis Budget Gr.

It is not normal.

The general sentiment of these big traders is split between 20% bullish and 80% bearish.

Of all the options we discovered, 24 were puts, totaling $1,888,277, and there was 1 call, totaling $31,800.

What is the target price?

Given the volume and open interest on these contracts, it appears whales have been targeting a price range of $165.0-$240.0 for Avis Budget Gr over the past 3 months.

Development of volume and open interest

Watching volume and open interest is a powerful move when trading options. This data can help you track the liquidity and interest of Avis Budget Gr options for a given strike price. Below we can observe the evolution of volume and open interest of calls and puts, respectively, for all Avis Budget Gr whale trades within a strike price range of 165, $0 to $240.0 in the last 30 days.

Volume of Avis Budget Gr options and open interest in the last 30 days

The biggest options spotted:

Symbol	PUT/CALL	Kind of trade	Feeling	Exp. Date	Strike price	Total trade price	open interest	Volume
SELF	PUT	TRADE	BEARISH	08/19/22	$165.00	$524,000	13	200
SELF	PUT	TRADE	BEARISH	08/19/22	$200.00	$150,000	240	30
SELF	PUT	SCANNING	BEARISH	08/19/22	$165.00	$135,800	13	280
SELF	PUT	SCANNING	BULLISH	08/19/22	$165.00	$97.5,000	13	396
SELF	PUT	TRADE	BEARISH	11/18/22	$240.00	$85.3K	0	20

Where is Avis Budget Gr at the moment?

With a volume of 524,136, CAR’s price is down -5.55% to $169.75.

RSI indicators suggest that the underlying stock may be oversold.

The next results should be published in 74 days.

What the experts say about Avis Budget Gr:

Barclays has decided to maintain its Equal-Weight rating on Avis Budget Gr, which currently sits at a price target of $223.

Options are a riskier asset than just trading stocks, but they have a higher profit potential. Serious options traders manage this risk by educating themselves daily, increasing and decreasing trades, following more than one indicator, and following the markets closely.

If you want to stay up to date on the latest options trading for {d[company_name]}, BenzingaProgives you real-time alerts on options trades.