Deep-pocketed investors have adopted a bearish approach towards Boston Scientific BSX, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in BSX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Boston Scientific. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 5 are puts, totaling $799,830, and 7 are calls, amounting to $1,015,620.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $85.0 for Boston Scientific over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Boston Scientific options trades today is 476.91 with a total volume of 4,784.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Boston Scientific's big money trades within a strike price range of $60.0 to $85.0 over the last 30 days.
Boston Scientific 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BSX | CALL | SWEEP | BULLISH | 01/17/25 | $72.50 | $756.0K | 66 | 2.1K |
| BSX | PUT | SWEEP | BEARISH | 01/17/25 | $67.50 | $267.8K | 36 | 1.0K |
| BSX | PUT | SWEEP | BEARISH | 01/17/25 | $65.00 | $253.2K | 143 | 21 |
| BSX | PUT | SWEEP | BEARISH | 01/17/25 | $67.50 | $218.7K | 36 | 297 |
| BSX | CALL | TRADE | BULLISH | 01/16/26 | $60.00 | $61.4K | 13 | 43 |
About Boston Scientific
Boston Scientific produces less invasive medical devices that are inserted into the human body through small openings or cuts. It manufactures products for use in angioplasty, blood clot filtration, cardiac rhythm management, catheter-directed ultrasound imaging, upper gastrointestinal tract diagnostics, interventional oncology, neuromodulation for chronic pain, and treatment of incontinence. The firm markets its devices to healthcare professionals and institutions globally. Foreign sales account for nearly half of the firm's total sales.
After a thorough review of the options trading surrounding Boston Scientific, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Boston Scientific
- Trading volume stands at 4,094,550, with BSX's price down by 0.0%, positioned at $64.79.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 77 days.
Professional Analyst Ratings for Boston Scientific
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $69.8.
- An analyst from RBC Capital downgraded its action to Outperform with a price target of $70.
- An analyst from Oppenheimer has decided to maintain their Perform rating on Boston Scientific, which currently sits at a price target of $68.
- Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $67.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Boston Scientific, targeting a price of $71.
- An analyst from Raymond James persists with their Strong Buy rating on Boston Scientific, maintaining a target price of $73.
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 Boston Scientific options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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