Whales with a lot of money to spend have taken a noticeably bullish stance on AppLovin ( APP ).

Looking at options history for AppLovin ( APP ) we detected 130 trades.

If we consider the specifics of each trade, it is accurate to state that 42% of the investors opened trades with bullish expectations and 38% with bearish.

From the overall spotted trades, 58 are puts, for a total amount of $5,613,007 and 72, calls, for a total amount of $5,573,940.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $230.0 to $1000.0 for AppLovin ( APP ) over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for AppLovin's ( APP ) options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of AppLovin's ( APP ) whale trades within a strike price range from $230.0 to $1000.0 in the last 30 days.

AppLovin Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

About AppLovin

AppLovin ( APP ) is a vertically integrated advertising technology company that acts as a demand-side platform for advertisers, a supply-side platform for publishers, and an exchange facilitating transactions between the two. About 80% of AppLovin's ( APP ) revenue comes from the DSP, AppDiscovery, while the remainder comes from the SSP, Max. AppLovin's ( APP ) primary tool for future growth is AXON 2, which is an ad optimizer operating within the DSP that allows advertisers to place ads according to specified return thresholds.

After a thorough review of the options trading surrounding AppLovin ( APP ), we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of AppLovin

Currently trading with a volume of 2,964,572, the APP's price is up by 0.33%, now at $567.78.

RSI readings suggest the stock is currently may be approaching oversold.

Anticipated earnings release is in 15 days.

What Analysts Are Saying About AppLovin

5 market experts have recently issued ratings for this stock, with a consensus target price of $754.6.

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* An analyst from Oppenheimer persists with their Outperform rating on AppLovin ( APP ), maintaining a target price of $740.

* Maintaining their stance, an analyst from UBS continues to hold a Buy rating for AppLovin ( APP ), targeting a price of $810.

* Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on AppLovin ( APP ) with a target price of $633.

* Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for AppLovin ( APP ), targeting a price of $740.

* An analyst from Citigroup persists with their Buy rating on AppLovin ( APP ), maintaining a target price of $850.

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 AppLovin ( APP ) with Benzinga Pro for real-time alerts.