The recent bull run has propelled Unity's price action to another level of high. However, the quarter results have caused the stock to return to its original levels after recent selling.
At 15:00:32 ET on April 3rd, 2023, an unusually large block of Put contracts in Unity Software (U) was sold for $366.80K. The strike price was $25.00/share, and the contracts expire in 655 days on January 17, 2025. This represents a significant purchase compared to other option put purchase.
Unity's earnings report is expected in about a month from today's date. Analysts estimate that Unity will earn revenue of 481.345M with an EPS of -0.028. If Unity's EPS is positive in the coming months, analysts expect the stock to hit around $46.
However, if the Fed does not stop or pause the interest rate hike, there is no chance that Unity's stock will soar higher than its present price. It is important to understand the current macro economy rather than the future micro economy. If Unity's stock falls below $25, it will go back into bearish mode.
Unity Chart
According to the chart, Unity must break through $35 to be considered in a bullish trend, and $29.20 to be viewed as a bear trend. Unlike Roblox, this stock has been lagging behind. Even with the acquisition of Iron Source, the stock has not seen any upward movement. In fact, the recent selling by the CEO of Iron Source raises significant questions about the stocks now.
For more information with reference : https://www.nasdaq.com/articles/unusual-put-option-trade-in-unity-software-u-worth-$366.80k
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