Financial giants have made a conspicuous bullish move on IBM. Our analysis of options history for IBM IBM revealed 18 unusual trades.
Delving into the details, we found 44% of traders were bullish, while 27% showed bearish tendencies. Out of all the trades we spotted, 16 were puts, with a value of $874,878, and 2 were calls, valued at $64,430.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $195.0 and $240.0 for IBM, spanning the last three months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in IBM's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to IBM's substantial trades, within a strike price spectrum from $195.0 to $240.0 over the preceding 30 days.
IBM Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IBM | PUT | SWEEP | BULLISH | 10/18/24 | $11.45 | $11.25 | $11.28 | $200.00 | $67.6K | 265 | 1.1K |
| IBM | PUT | SWEEP | BULLISH | 10/18/24 | $11.45 | $11.25 | $11.33 | $200.00 | $67.6K | 265 | 1.0K |
| IBM | PUT | SWEEP | BEARISH | 10/18/24 | $11.15 | $11.05 | $11.15 | $200.00 | $66.9K | 265 | 624 |
| IBM | PUT | SWEEP | BULLISH | 10/18/24 | $11.45 | $11.25 | $11.27 | $200.00 | $64.3K | 265 | 1.1K |
| IBM | PUT | SWEEP | BEARISH | 10/18/24 | $11.4 | $11.15 | $11.31 | $200.00 | $62.1K | 265 | 947 |
About IBM
IBM looks to be a part of every aspect of an enterprise's IT needs. The company primarily sells software, IT services, consulting, and hardware. IBM operates in 175 countries and employs approximately 350,000 people. The company has a robust roster of 80,000 business partners to service 5,200 clients, which includes 95% of all Fortune 500. While IBM is a B2B company, IBM's outward impact is substantial. For example, IBM manages 90% of all credit card transactions globally and is responsible for 50% of all wireless connections in the world.
Having examined the options trading patterns of IBM, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of IBM
- Currently trading with a volume of 1,406,514, the IBM's price is up by 0.35%, now at $191.61.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 75 days.
What Analysts Are Saying About IBM
4 market experts have recently issued ratings for this stock, with a consensus target price of $206.5.
- An analyst from RBC Capital has decided to maintain their Outperform rating on IBM, which currently sits at a price target of $211.
- Maintaining their stance, an analyst from BMO Capital continues to hold a Market Perform rating for IBM, targeting a price of $210.
- Consistent in their evaluation, an analyst from Jefferies keeps a Hold rating on IBM with a target price of $200.
- Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for IBM, targeting a price of $205.
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 IBM, 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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