High-rolling investors have positioned themselves bullish on ResMed RMD, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in RMD often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for ResMed. This is not a typical pattern.
The sentiment among these major traders is split, with 50% bullish and 37% bearish. Among all the options we identified, there was one put, amounting to $85,680, and 7 calls, totaling $316,157.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $200.0 and $230.0 for ResMed, spanning the last three months.
Insights into Volume & Open Interest
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 ResMed'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 ResMed's whale trades within a strike price range from $200.0 to $230.0 in the last 30 days.
ResMed 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RMD | CALL | SWEEP | BULLISH | 09/20/24 | $13.9 | $13.2 | $13.2 | $210.00 | $93.6K | 16 | 71 |
| RMD | PUT | SWEEP | BEARISH | 08/16/24 | $7.4 | $7.2 | $7.2 | $200.00 | $85.6K | 299 | 0 |
| RMD | CALL | SWEEP | BULLISH | 08/16/24 | $8.3 | $7.8 | $8.3 | $220.00 | $76.3K | 688 | 357 |
| RMD | CALL | SWEEP | BEARISH | 08/16/24 | $8.7 | $8.2 | $8.6 | $220.00 | $31.8K | 688 | 395 |
| RMD | CALL | TRADE | BULLISH | 08/16/24 | $7.8 | $7.1 | $7.8 | $220.00 | $31.2K | 688 | 127 |
About ResMed
ResMed is one of the largest respiratory care device companies globally, primarily developing and supplying flow generators, masks and accessories for the treatment of sleep apnea. Increasing diagnosis of sleep apnea combined with ageing populations and increasing prevalence of obesity is resulting in a structurally growing market. The company earns roughly two thirds of its revenue in the Americas and the balance across other regions dominated by Europe, Japan and Australia. Recent developments and acquisitions have focused on digital health as ResMed is aiming to differentiate itself through the provision of clinical data for use by the patient, medical care advisor and payer in the out-of-hospital setting.
Following our analysis of the options activities associated with ResMed, we pivot to a closer look at the company's own performance.
Present Market Standing of ResMed
- Trading volume stands at 402,637, with RMD's price down by 0.0%, positioned at $206.2.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 7 days.
Expert Opinions on ResMed
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $204.0.
- Maintaining their stance, an analyst from RBC Capital continues to hold a Sector Perform rating for ResMed, targeting a price of $204.
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 ResMed 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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