Investors with a lot of money to spend have taken a bearish stance on Meta Platforms ( META ) .

And retail traders should know.

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

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 73 uncommon options trades for Meta Platforms ( META ).

This isn't normal.

The overall sentiment of these big-money traders is split between 35% bullish and 41%, bearish.

Out of all of the special options we uncovered, 18 are puts, for a total amount of $2,679,357, and 55 are calls, for a total amount of $4,778,604.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $5.0 to $900.0 for Meta Platforms ( META ) over the last 3 months.

Volume & Open Interest Trends

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 Meta Platforms's ( META ) 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 Meta Platforms's ( META ) whale trades within a strike price range from $5.0 to $900.0 in the last 30 days.

Meta Platforms Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About Meta Platforms

Meta is the largest social media company in the world, boasting close to 4 billion monthly active users worldwide. The firm's "Family of Apps," its core business, consists of Facebook, Instagram, Messenger, and WhatsApp. End users can leverage these applications for a variety of different purposes, from keeping in touch with friends to following celebrities and running digital businesses for free. Meta packages customer data, gleaned from its application ecosystem and sells ads to digital advertisers. While the firm has been investing heavily in its Reality Labs business, it remains a very small part of Meta's overall sales.

Current Position of Meta Platforms

With a volume of 5,577,122, the price of META is up 0.18% at $644.77.

RSI indicators hint that the underlying stock may be overbought.

Next earnings are expected to be released in 62 days.

Expert Opinions on Meta Platforms

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $721.6.

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.

* Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Meta Platforms ( META ), targeting a price of $675.

* Maintaining their stance, an analyst from TD Securities continues to hold a Buy rating for Meta Platforms ( META ), targeting a price of $700.

* Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Meta Platforms ( META ) with a target price of $655.

* Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Meta Platforms ( META ), targeting a price of $690.

* An analyst from Loop Capital persists with their Buy rating on Meta Platforms ( META ), maintaining a target price of $888.

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 Meta Platforms ( META ) with Benzinga Pro for real-time alerts.