Deep-pocketed investors have adopted a bearish approach towards IBM IBM, 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 IBM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for IBM. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 22% leaning bullish and 77% bearish. Among these notable options, 3 are puts, totaling $112,605, and 6 are calls, amounting to $449,049.
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 $175.0 and $210.0 for IBM, spanning the last three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for IBM options trades today is 1527.38 with a total volume of 1,415.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for IBM's big money trades within a strike price range of $175.0 to $210.0 over the last 30 days.
IBM 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IBM | CALL | TRADE | BEARISH | 06/21/24 | $5.5 | $5.4 | $5.41 | $195.00 | $182.3K | 3.0K | 396 |
| IBM | CALL | SWEEP | BEARISH | 06/21/24 | $5.45 | $5.35 | $5.39 | $195.00 | $70.5K | 3.0K | 706 |
| IBM | CALL | SWEEP | BEARISH | 10/18/24 | $6.25 | $6.15 | $6.25 | $210.00 | $63.1K | 335 | 101 |
| IBM | PUT | SWEEP | BULLISH | 04/26/24 | $8.05 | $7.85 | $7.9 | $190.00 | $56.8K | 453 | 23 |
| IBM | CALL | SWEEP | BEARISH | 01/16/26 | $27.95 | $27.15 | $27.15 | $185.00 | $54.3K | 672 | 0 |
About IBM
IBM looks to be a part of every aspect of an enterprise's IT needs. The company primarily sells software, IT services, consulting, and hardware. IBM operates in 175 countries and employs approximately 350,000 people. The company has a robust roster of 80,000 business partners to service 5,200 clients—which includes 95% of all Fortune 500. While IBM is a B2B company, IBM's outward impact is substantial. For example, IBM manages 90% of all credit card transactions globally and is responsible for 50% of all wireless connections in the world.
Present Market Standing of IBM
- With a trading volume of 1,011,098, the price of IBM is down by -1.56%, reaching $186.35.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 12 days from now.
What Analysts Are Saying About IBM
In the last month, 1 experts released ratings on this stock with an average target price of $220.0.
- An analyst from B of A Securities has decided to maintain their Buy rating on IBM, which currently sits at a price target of $220.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for IBM, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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