Investors with a lot of money to spend have taken a bearish stance on S&P Global (NYSE:SPGI).

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 SPGI, 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 20 uncommon options trades for S&P Global.

This isn't normal.

The overall sentiment of these big-money traders is split between 35% bullish and 45%, bearish.

Out of all of the special options we uncovered, 13 are puts, for a total amount of $1,155,573, and 7 are calls, for a total amount of $618,590.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $250.0 to $500.0 for S&P Global over the recent three months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for S&P Global's 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 S&P Global's whale activity within a strike price range from $250.0 to $500.0 in the last 30 days.

S&P Global Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
SPGI	PUT	SWEEP	BULLISH	03/20/26	$15.0	$14.3	$15.0	$400.00	$285.1K	492	5
SPGI	PUT	TRADE	NEUTRAL	09/18/26	$15.3	$13.5	$14.4	$340.00	$227.5K	1.5K	159
SPGI	CALL	SWEEP	BEARISH	08/21/26	$10.1	$6.0	$10.0	$500.00	$170.0K	5	10
SPGI	CALL	SWEEP	BULLISH	03/20/26	$9.0	$8.5	$8.5	$420.00	$124.9K	26	422
SPGI	PUT	SWEEP	BEARISH	03/20/26	$16.0	$14.9	$14.9	$400.00	$113.8K	492	276

About S&P Global

S&P Global provides data and benchmarks to capital and commodity market participants. Its ratings business is the largest credit rating agency in the world and S&P's largest segment by profitability. S&P's largest segment by revenue is market intelligence, which provides desktop, data and advisory solutions, enterprise solutions, and credit/risk solutions mostly in the financial-services industry. S&P's other segments include commodity insights (Platts and other data), mobility (Carfax), and indexes.

S&P Global's Current Market Status

• With a volume of 2,285,103, the price of SPGI is down -0.52% at $398.99.
• RSI indicators hint that the underlying stock may be oversold.
• Next earnings are expected to be released in 76 days.

Professional Analyst Ratings for S&P Global

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $565.2.

• Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for S&P Global, targeting a price of $625.
• An analyst from Morgan Stanley has decided to maintain their Overweight rating on S&P Global, which currently sits at a price target of $627.
• Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on S&P Global with a target price of $489.
• Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for S&P Global, targeting a price of $555.
• Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for S&P Global, targeting a price of $530.

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.