Investing

Unusual Call Option Trade in United Airlines Worth $775.00K

Fintel Staff

Published: February 17, 2023 3:16 am

Last Updated: February 17, 2023 11:18 am

On February 16, 2023 at 11:03:11 (ET) an unusually large $775.00K block of Call contracts in United Continental Holdings (UAL) was bought, with a strike price of $57.50 / share, expiring in 211 days (on September 15, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 2.12 sigmas above the mean, placing it in the 98.15 percentile of all recent large trades made in UAL options.

Analyst Price Forecast Suggests 16.91% Upside

As of February 15, 2023, the average one-year price target for United Continental Holdings is $58.35. The forecasts range from a low of $36.36 to a high of $85.05. The average price target represents an increase of 16.91% from its latest reported closing price of $49.91.

The projected annual revenue for United Continental Holdings is $51,057MM, an increase of 13.57%. The projected annual EPS is $5.78.

What is the Fund Sentiment?

There are 1067 funds or institutions reporting positions in United Continental Holdings. This is an increase of 76 owner(s) or 7.67% in the last quarter. Average portfolio weight of all funds dedicated to UAL is 0.15%, a decrease of 3.35%. Total shares owned by institutions increased in the last three months by 7.72% to 245,002K shares. The put/call ratio of UAL is 1.52, indicating a bearish outlook.

What are large shareholders doing?

Primecap Management holds 24,070K shares representing 7.36% ownership of the company. In it’s prior filing, the firm reported owning 24,483K shares, representing a decrease of 1.71%. The firm decreased its portfolio allocation in UAL by 99.89% over the last quarter.

VPMCX – Vanguard PRIMECAP Fund Investor Shares holds 12,392K shares representing 3.79% ownership of the company. In it’s prior filing, the firm reported owning 12,451K shares, representing a decrease of 0.48%. The firm decreased its portfolio allocation in UAL by 1.86% over the last quarter.

Capital International Investors holds 12,052K shares representing 3.69% ownership of the company. In it’s prior filing, the firm reported owning 11,951K shares, representing an increase of 0.83%. The firm increased its portfolio allocation in UAL by 7.54% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 9,739K shares representing 2.98% ownership of the company. In it’s prior filing, the firm reported owning 9,606K shares, representing an increase of 1.37%. The firm decreased its portfolio allocation in UAL by 2.94% over the last quarter.

VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 7,524K shares representing 2.30% ownership of the company. In it’s prior filing, the firm reported owning 7,520K shares, representing an increase of 0.04%. The firm decreased its portfolio allocation in UAL by 3.93% over the last quarter.

United Airlines Holdings Background Information
(This description is provided by the company.)

United’s shared purpose is ‘Connecting People. Uniting the World.’ The Company is more focused than ever on its commitment to customers through a series of innovations and improvements designed to help build a great experience: Every customer. Every flight. Every day. Together, United and United Express operate approximately 4,900 flights a day to 358 airports across five continents. In 2018, United and United Express operated more than 1.7 million flights carrying more than 158 million customers. United is proud to have the world’s most comprehensive route network, including U.S. mainland hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C. United operates 788 mainline aircraft and the airline’s United Express partners operate 560 regional aircraft. United is a founding member of Star Alliance, which provides service to 195 countries via 26 member airlines.

This article originally appeared on Fintel