Deep-pocketed investors have adopted a bullish approach towards 3M MMM, 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 MMM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for 3M. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 40% bearish. Among these notable options, 3 are puts, totaling $270,960, and 7 are calls, amounting to $287,393.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $90.0 to $110.0 for 3M over the last 3 months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for 3M's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across 3M's significant trades, within a strike price range of $90.0 to $110.0, over the past month.
3M 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MMM | PUT | TRADE | BULLISH | 06/20/25 | $6.55 | $4.2 | $4.55 | $90.00 | $136.5K | 527 | 303 |
| MMM | PUT | SWEEP | BEARISH | 11/15/24 | $4.45 | $4.4 | $4.4 | $100.00 | $89.7K | 164 | 205 |
| MMM | CALL | SWEEP | BULLISH | 07/26/24 | $1.52 | $1.51 | $1.52 | $107.00 | $64.6K | 393 | 292 |
| MMM | CALL | SWEEP | BEARISH | 08/16/24 | $3.5 | $3.4 | $3.4 | $105.00 | $60.8K | 4.6K | 744 |
| MMM | PUT | SWEEP | BULLISH | 08/02/24 | $1.5 | $1.49 | $1.49 | $100.00 | $44.7K | 698 | 352 |
About 3M
3M, a multinational conglomerate founded in 1902, sells tens of thousands of products ranging from sponges to respirators. The firm is well known for its extensive research and development capabilities, and it is a pioneer in inventing new use cases for its proprietary technologies. 3M is organized across three business segments: safety and industrial (representing around 44% of revenue), transportation and electronics (36%), and consumer (20%). The firm recently spun off its healthcare business, now known as Solventum. Nearly half of 3M's revenue comes from outside the Americas.
Following our analysis of the options activities associated with 3M, we pivot to a closer look at the company's own performance.
3M's Current Market Status
- With a trading volume of 1,254,372, the price of MMM is up by 1.09%, reaching $104.38.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 1 days from now.
What The Experts Say On 3M
2 market experts have recently issued ratings for this stock, with a consensus target price of $115.0.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on 3M with a target price of $110.
- An analyst from Barclays persists with their Overweight rating on 3M, maintaining a target price of $120.
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 3M 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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