Investing

Unusual Put Option Trade in United Airlines Worth $511.52K

George Maybach

Published: April 28, 2023 3:35 am

Last Updated: April 28, 2023 12:36 pm

On April 27, 2023 at 12:01:11 ET an unusually large $511.52K block of Put contracts in United Continental Holdings (UAL) was bought, with a strike price of $20.00 / share, expiring in 785 day(s) (on June 20, 2025). Fintel tracks all large options trades, and the premium spent on this trade was 3.03 sigmas above the mean, placing it in the 99.87th percentile of all recent large trades made in UAL options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1118 funds or institutions reporting positions in United Continental Holdings. This is an increase of 95 owner(s) or 9.29% in the last quarter. Average portfolio weight of all funds dedicated to UAL is 0.16%, a decrease of 0.79%. Total shares owned by institutions increased in the last three months by 10.99% to 257,222K shares. The put/call ratio of UAL is 1.53, indicating a bearish outlook.

Analyst Price Forecast Suggests 53.28% Upside

As of April 24, 2023, the average one-year price target for United Continental Holdings is $64.52. The forecasts range from a low of $43.43 to a high of $85.05. The average price target represents an increase of 53.28% from its latest reported closing price of $42.10.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for United Continental Holdings is $51,057MM, an increase of 4.59%. The projected annual non-GAAP EPS is $5.78.

What are Other Shareholders Doing?

FMEIX – Fidelity Mid Cap Enhanced Index Fund holds 263K shares representing 0.08% ownership of the company. In it’s prior filing, the firm reported owning 167K shares, representing an increase of 36.63%. The firm increased its portfolio allocation in UAL by 84.38% over the last quarter.

CRQSX – CATHOLIC RESPONSIBLE INVESTMENTS EQUITY INDEX FUND Institutional Shares holds 29K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 28K shares, representing an increase of 0.70%. The firm increased its portfolio allocation in UAL by 6.86% over the last quarter.

IMCV – iShares Morningstar Mid-Cap Value ETF holds 43K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 40K shares, representing an increase of 8.81%. The firm increased its portfolio allocation in UAL by 8.35% over the last quarter.

Natixis Advisors holds 57K shares representing 0.02% ownership of the company. In it’s prior filing, the firm reported owning 51K shares, representing an increase of 10.37%. The firm decreased its portfolio allocation in UAL by 99.88% over the last quarter.

U S Global Investors holds 5,228K shares representing 1.59% ownership of the company. In it’s prior filing, the firm reported owning 5,999K shares, representing a decrease of 14.75%. The firm decreased its portfolio allocation in UAL by 2.82% 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.

See all United Continental Holdings regulatory filings.

This article originally appeared on Fintel