Decoding SAP's Options Activity: What's the Big Picture?
Investors with a lot of money to spend have taken a bearish stance on SAP (NYSE:SAP).
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 SAP, 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 9 uncommon options trades for SAP.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 55%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $224,251, and 4 are calls, for a total amount of $425,440.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $280.0 and $320.0 for SAP, spanning the last three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in SAP's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to SAP's substantial trades, within a strike price spectrum from $280.0 to $320.0 over the preceding 30 days.
SAP Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SAP | CALL | SWEEP | BEARISH | 08/15/25 | $20.3 | $17.0 | $17.0 | $280.00 | $207.4K | 40 | 123 |
| SAP | CALL | SWEEP | BULLISH | 09/19/25 | $14.5 | $14.4 | $14.5 | $290.00 | $145.0K | 115 | 100 |
| SAP | PUT | SWEEP | BEARISH | 08/15/25 | $6.3 | $6.1 | $6.3 | $290.00 | $53.5K | 823 | 194 |
| SAP | PUT | SWEEP | NEUTRAL | 08/15/25 | $12.9 | $12.2 | $12.55 | $300.00 | $46.4K | 1.4K | 212 |
| SAP | PUT | SWEEP | BULLISH | 08/15/25 | $12.8 | $12.1 | $12.3 | $300.00 | $45.7K | 1.4K | 129 |
About SAP
Founded in Germany in 1972 by former IBM employees, SAP is the world's largest provider of enterprise application software. Known as the leader in enterprise resource planning software, SAP's portfolio also includes software for supply chain management, procurement, travel and expense management, and customer relationship management, among others. The company operates in more than 180 countries and has more than 400,000 customers, approximately 80% of which are small to medium-size enterprises.
Current Position of SAP
- With a trading volume of 680,525, the price of SAP is down by -4.33%, reaching $293.04.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 89 days from now.
Professional Analyst Ratings for SAP
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $375.0.
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* Maintaining their stance, an analyst from JMP Securities continues to hold a Market Outperform rating for SAP, targeting a price of $375.
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 SAP with Benzinga Pro for real-time alerts.
