Deep-pocketed investors have adopted a bearish approach towards Tenet Healthcare THC, 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 THC 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 Tenet Healthcare. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 58% bearish. Among these notable options, 2 are puts, totaling $133,288, and 10 are calls, amounting to $579,946.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $92.5 to $97.5 for Tenet Healthcare over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Tenet Healthcare'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 Tenet Healthcare's whale trades within a strike price range from $92.5 to $97.5 in the last 30 days.
Tenet Healthcare 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| THC | CALL | SWEEP | BULLISH | 05/17/24 | $6.0 | $5.8 | $6.0 | $92.50 | $139.2K | 49 | 784 |
| THC | PUT | SWEEP | BULLISH | 05/17/24 | $3.5 | $3.3 | $3.3 | $92.50 | $98.6K | 1.0K | 102 |
| THC | CALL | SWEEP | BEARISH | 05/17/24 | $5.0 | $4.9 | $5.0 | $92.50 | $90.7K | 49 | 201 |
| THC | CALL | SWEEP | BEARISH | 05/17/24 | $6.2 | $6.0 | $6.0 | $92.50 | $72.6K | 49 | 785 |
| THC | CALL | SWEEP | NEUTRAL | 05/17/24 | $6.1 | $5.9 | $5.9 | $92.50 | $59.0K | 49 | 402 |
About Tenet Healthcare
Tenet Healthcare is a Dallas-based healthcare services organization. It operates a collection of hospitals (about 60 as of December 2023) and over 450 ambulatory surgery centers and other outpatient facilities across the U.S., primarily in the South. Through its Conifer segment, Tenet also provides revenue cycle management solutions.
Following our analysis of the options activities associated with Tenet Healthcare, we pivot to a closer look at the company's own performance.
Where Is Tenet Healthcare Standing Right Now?
- Currently trading with a volume of 681,347, the THC's price is down by -1.89%, now at $95.67.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 4 days.
What The Experts Say On Tenet Healthcare
3 market experts have recently issued ratings for this stock, with a consensus target price of $115.0.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $104.
- Maintaining their stance, an analyst from Deutsche Bank continues to hold a Buy rating for Tenet Healthcare, targeting a price of $126.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on Tenet Healthcare, which currently sits at a price target of $115.
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 Tenet Healthcare 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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