Investors with significant funds have taken a bearish position in Comerica CMA, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in CMA usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 19 options transactions for Comerica. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 31% being bullish and 68% bearish. Of all the options we discovered, 18 are puts, valued at $851,524, and there was a single call, worth $39,910.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $55.0 for Comerica over the recent three months.
Volume & Open Interest Development
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 Comerica'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 Comerica's whale activity within a strike price range from $50.0 to $55.0 in the last 30 days.
Comerica Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CMA | PUT | SWEEP | BULLISH | 10/18/24 | $3.2 | $2.8 | $2.85 | $50.00 | $125.4K | 122 | 1.3K |
| CMA | PUT | SWEEP | BEARISH | 10/18/24 | $2.95 | $2.8 | $2.95 | $50.00 | $63.7K | 122 | 0 |
| CMA | PUT | SWEEP | BEARISH | 10/18/24 | $2.95 | $2.95 | $2.95 | $50.00 | $60.7K | 122 | 0 |
| CMA | PUT | SWEEP | BEARISH | 10/18/24 | $2.85 | $2.8 | $2.85 | $50.00 | $48.4K | 122 | 1.3K |
| CMA | PUT | SWEEP | BEARISH | 10/18/24 | $2.85 | $2.8 | $2.85 | $50.00 | $48.1K | 122 | 1.3K |
About Comerica
Comerica is a financial services company headquartered in Dallas. It is primarily focused on relationship-based commercial banking. In addition to Texas, Comerica's other primary geographies are California and Michigan, with locations also in Arizona and Florida and select businesses operating in several other states as well as Canada and Mexico.
Having examined the options trading patterns of Comerica, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Comerica Standing Right Now?
- With a volume of 305,328, the price of CMA is down -12.43% at $50.28.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 0 days.
What Analysts Are Saying About Comerica
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $59.0.
- An analyst from Keefe, Bruyette & Woods has decided to maintain their Market Perform rating on Comerica, which currently sits at a price target of $56.
- An analyst from JP Morgan has decided to maintain their Neutral rating on Comerica, which currently sits at a price target of $57.
- An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Comerica, which currently sits at a price target of $54.
- An analyst from Baird persists with their Outperform rating on Comerica, maintaining a target price of $68.
- An analyst from Raymond James has elevated its stance to Outperform, setting a new price target at $60.
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 Comerica, 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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