Check Out What Whales Are Doing With FIG

Investors with significant funds have taken a bullish position in Figma FIG, a development that retail traders should be aware of.This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in FIG usually indicates foreknowledge of upcoming events.Today, Benzinga's options scanner identified 9 options transactions for Figma. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 66% being bullish and 33% bearish. Of all the options we discovered, 8 are puts, valued at $431,226, and there was a single call, worth $26,755.What's The Price Target?Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $50.0 to $90.0 for Figma during the past quarter. Analyzing Volume & Open InterestIn today's trading context, the average open interest for options of Figma stands at 977.14, with a total volume reaching 2,072.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Figma, situated within the strike price corridor from $50.0 to $90.0, throughout the last 30 days.Figma 30-Day Option Volume & Interest SnapshotBiggest Options Spotted:About FigmaFigma Inc is engaged in transforming ideas into digital products and experiences. The group focuses on the entire software creation lifecycle, enabling it to quickly launch new products on Figma's browser-based platform and reinforcing its belief that design extends well beyond a single step or role. The company adopts an expansive view, as design is more than how something looks, feels, or works. It derives its revenue from sales of subscriptions for access to its platform.In light of the recent options history for Figma, it's now appropriate to focus on the company itself. We aim to explore its current performance.Current Position of Figma With a volume of 2,499,969, the price of FIG is down -3.01% at $52.49. RSI indicators hint that the underlying stock may be approaching oversold. Next earnings are expected to be released in 78 days. Expert Opinions on FigmaIn the last month, 5 experts released ratings on this stock with an average target price of $72.0.Unusual Options Activity Detected: Smart Money on the MoveBenzinga 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 B of A Securities has revised its rating downward to Neutral, adjusting the price target to $85. * An analyst from RBC Capital downgraded its action to Sector Perform with a price target of $75. * Maintaining their stance, an analyst from RBC Capital continues to hold a Sector Perform rating for Figma, targeting a price of $65. * An analyst from JP Morgan has revised its rating downward to Neutral, adjusting the price target to $65. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Figma, targeting a price of $70. Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Figma options trades with real-time alerts from Benzinga Pro.