Deep-pocketed investors have adopted a bearish approach towards Stryker SYK, 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 SYK usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 33 extraordinary options activities for Stryker. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 57% bearish. Among these notable options, 27 are puts, totaling $1,322,556, and 6 are calls, amounting to $441,500.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $300.0 to $350.0 for Stryker during the past quarter.
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 Stryker'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 Stryker's whale trades within a strike price range from $300.0 to $350.0 in the last 30 days.
Stryker Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SYK | CALL | TRADE | BULLISH | 01/16/26 | $51.5 | $47.8 | $51.0 | $330.00 | $234.6K | 8 | 46 |
| SYK | PUT | SWEEP | BULLISH | 08/16/24 | $13.8 | $12.5 | $12.5 | $340.00 | $175.0K | 946 | 340 |
| SYK | PUT | SWEEP | BEARISH | 12/20/24 | $7.7 | $6.8 | $7.6 | $300.00 | $101.0K | 41 | 1.2K |
| SYK | PUT | SWEEP | BEARISH | 12/20/24 | $7.6 | $7.3 | $7.3 | $300.00 | $65.7K | 41 | 828 |
| SYK | PUT | SWEEP | BULLISH | 08/16/24 | $14.0 | $13.5 | $13.5 | $340.00 | $62.1K | 946 | 192 |
About Stryker
Stryker designs, manufactures, and markets an array of medical equipment, instruments, consumable supplies, and implantable devices. The product portfolio includes hip and knee replacements, endoscopy systems, operating room equipment, embolic coils, hospital beds and gurneys, and spinal devices. Stryker remains one of the three largest competitors in reconstructive orthopedic implants and holds the leadership position in operating room equipment. Just over one fourth of Stryker's total revenue currently comes from outside the United States.
Current Position of Stryker
- With a trading volume of 975,276, the price of SYK is up by 1.24%, reaching $335.77.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 1 days from now.
What Analysts Are Saying About Stryker
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $362.3333333333333.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Stryker with a target price of $365.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on Stryker with a target price of $350.
- Consistent in their evaluation, an analyst from BTIG keeps a Buy rating on Stryker with a target price of $372.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Stryker with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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