Benzinga | Nov 18, 2021 12:41PM EST

Tilray Whale Trades Spotted

A whale with a lot of money to spend has taken a noticeably bullish stance on Tilray.

Looking at options history for Tilray (NASDAQ:TLRY) we detected 10 strange trades.

If we consider the specifics of each trade, it is accurate to state that 70.0% of the investors opened trades with bullish expectations and 30.0% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $364,925.00 and 6, calls, for a total amount of $210,029.00.

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 $9.0 to $25.0 for Tilray over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Tilray options trades today is 3372.25 with a total volume of 12,683.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Tilray's big money trades within a strike price range of $9.0 to $25.0 over the last 30 days.

Tilray Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestTLRY PUT SWEEP BULLISH 01/21/ $10.00 $281.6K 13.2K 3.3K 22TLRY CALL SWEEP BULLISH 03/18/ $9.00 $62.9K 217 251 22TLRY CALL TRADE BEARISH 06/17/ $10.00 $32.5K 2.8K 185 22TLRY CALL TRADE BULLISH 02/18/ $12.00 $31.5K 988 274 22TLRY PUT SWEEP BULLISH 01/21/ $10.00 $29.4K 13.2K 3.5K 22

Where Is Tilray Standing Right Now?

* With a volume of 28,951,549.00, the price of TLRY is down -12.65% at $10.78.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 12 days.

What The Experts Say On Tilray:

* Barclays downgraded its action to Underweight with a price target of $10.0

* Cantor Fitzgerald downgraded its action to Neutral with a price target of $11.8

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.