Investors with a lot of money to spend have taken a bearish stance on Tenet Healthcare THC.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with THC, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 14 options trades for Tenet Healthcare.
This isn't normal.
The overall sentiment of these big-money traders is split between 35% bullish and 42%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $40,882, and 13, calls, for a total amount of $438,450.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $135.0 to $160.0 for Tenet Healthcare over the recent three months.
Insights into 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 Tenet Healthcare's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Tenet Healthcare's significant trades, within a strike price range of $135.0 to $160.0, over the past month.
Tenet Healthcare Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| THC | CALL | SWEEP | BULLISH | 08/16/24 | $2.35 | $2.05 | $2.3 | $150.00 | $45.9K | 1.6K | 209 |
| THC | PUT | SWEEP | BULLISH | 08/16/24 | $2.85 | $1.85 | $1.8 | $135.00 | $40.8K | 920 | 227 |
| THC | CALL | TRADE | NEUTRAL | 01/17/25 | $14.6 | $13.4 | $13.9 | $145.00 | $40.3K | 920 | 78 |
| THC | CALL | TRADE | BEARISH | 01/17/25 | $15.4 | $13.9 | $14.0 | $145.00 | $39.2K | 920 | 78 |
| THC | CALL | TRADE | BEARISH | 01/17/25 | $16.8 | $14.3 | $15.0 | $145.00 | $36.0K | 920 | 49 |
About Tenet Healthcare
Tenet Healthcare is a Dallas-based healthcare services organization. It operates a collection of hospitals (about 50 as of July 2024) and over 500 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.
After a thorough review of the options trading surrounding Tenet Healthcare, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Tenet Healthcare Standing Right Now?
- With a volume of 1,535,704, the price of THC is up 3.39% at $146.56.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 84 days.
Expert Opinions on Tenet Healthcare
5 market experts have recently issued ratings for this stock, with a consensus target price of $153.6.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $112.
- An analyst from Truist Securities downgraded its action to Buy with a price target of $170.
- An analyst from Barclays persists with their Overweight rating on Tenet Healthcare, maintaining a target price of $156.
- An analyst from Truist Securities persists with their Buy rating on Tenet Healthcare, maintaining a target price of $155.
- Maintaining their stance, an analyst from Raymond James continues to hold a Strong Buy rating for Tenet Healthcare, targeting a price of $175.
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 Tenet Healthcare, 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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