McKesson's Options Frenzy: What You Need to Know

Financial giants have made a conspicuous bearish move on McKesson. Our analysis of options history for McKesson MCK revealed 41 unusual trades.

Delving into the details, we found 17% of traders were bullish, while 60% showed bearish tendencies. Out of all the trades we spotted, 33 were puts, with a value of $3,204,542, and 8 were calls, valued at $380,924.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $270.0 to $690.0 for McKesson over the last 3 months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in McKesson's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to McKesson's substantial trades, within a strike price spectrum from $270.0 to $690.0 over the preceding 30 days.

McKesson Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

About McKesson

McKesson Corp is one of three leading pharmaceutical wholesalers in the us engaged in sourcing and distributing branded, generic, and specialty pharmaceutical products to pharmacies (retail chains, independent, and mail order), hospitals networks, and healthcare providers. Along with Cencora and Cardinal Health, the three account for over 90% of the us pharmaceutical wholesale industry. Outside the us market, McKesson engages in pharmaceutical wholesale and distribution in Canada. Additionally, the company supplies medical-surgical products and equipment to healthcare facilities and provides a variety of technology solutions for pharmacies.

Following our analysis of the options activities associated with McKesson, we pivot to a closer look at the company's own performance.

McKesson's Current Market Status

• Currently trading with a volume of 3,264,678, the MCK's price is down by -7.39%, now at $571.85.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 83 days.

What Analysts Are Saying About McKesson

In the last month, 4 experts released ratings on this stock with an average target price of $646.75.

• An analyst from Barclays has decided to maintain their Overweight rating on McKesson, which currently sits at a price target of $616.
• Maintaining their stance, an analyst from Baird continues to hold a Outperform rating for McKesson, targeting a price of $671.
• Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on McKesson with a target price of $670.
• Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on McKesson with a target price of $630.

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 McKesson, Benzinga Pro gives you real-time options trades alerts.