Decoding Consolidated Edison's Options Activity: What's the Big Picture?

Investors with a lot of money to spend have taken a bullish stance on Consolidated Edison ED.

And retail traders should know.

We noticed this today when the positions 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 ED, it often means somebody knows something is about to happen.

Today, Benzinga’s options scanner spotted 8 options trades for Consolidated Edison.

This isn’t normal.

The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $40,000, and 7, calls, for a total amount of $323,075.

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 $100.0 to $105.0 for Consolidated Edison over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Consolidated Edison options trades today is 551.0 with a total volume of 1,502.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Consolidated Edison’s big money trades within a strike price range of $100.0 to $105.0 over the last 30 days.

Consolidated Edison Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

About Consolidated Edison

Con Ed is a holding company for Consolidated Edison of New York, or CECONY, and Orange & Rockland, or O&R. These utilities provide steam, natural gas, and electricity to customers in southeastern New York—including New York City—and small parts of New Jersey. The two utilities generate nearly all of Con Ed’s earnings following the sale of its clean energy business to RWE in early 2023.

Following our analysis of the options activities associated with Consolidated Edison, we pivot to a closer look at the company’s own performance.

Present Market Standing of Consolidated Edison

• Currently trading with a volume of 2,390,971, the ED’s price is up by 0.82%, now at $108.77.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 34 days.

What The Experts Say On Consolidated Edison

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $102.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge’s Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
* An analyst from UBS has decided to maintain their Neutral rating on Consolidated Edison, which currently sits at a price target of $113.
* Maintaining their stance, an analyst from Morgan Stanley continues to hold a Underweight rating for Consolidated Edison, targeting a price of $91.

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 Consolidated Edison with Benzinga Pro for real-time alerts.