Deep-pocketed investors have adopted a bullish approach towards Comerica CMA, 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 CMA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Comerica. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 45% leaning bullish and 45% bearish. Among these notable options, 7 are puts, totaling $301,548, and 4 are calls, amounting to $283,075.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $52.5 to $60.0 for Comerica over the recent three months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Comerica's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Comerica's significant trades, within a strike price range of $52.5 to $60.0, over the past month.
Comerica Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CMA | CALL | SWEEP | BULLISH | 10/18/24 | $1.3 | $1.25 | $1.3 | $60.00 | $160.1K | 683 | 1.2K |
| CMA | PUT | SWEEP | BEARISH | 09/20/24 | $1.75 | $1.75 | $1.75 | $52.50 | $67.9K | 6.1K | 425 |
| CMA | PUT | SWEEP | BEARISH | 09/20/24 | $1.8 | $1.8 | $1.8 | $52.50 | $62.1K | 6.1K | 912 |
| CMA | CALL | SWEEP | BULLISH | 10/18/24 | $1.2 | $1.1 | $1.1 | $60.00 | $60.1K | 683 | 2.5K |
| CMA | PUT | SWEEP | BEARISH | 09/20/24 | $1.95 | $1.9 | $1.9 | $52.50 | $49.4K | 6.1K | 1.8K |
About Comerica
Comerica is a financial services company headquartered in Dallas. It is primarily focused on relationship-based commercial banking. In addition to Texas, Comerica's other primary geographies are California and Michigan, with locations also in Arizona and Florida and select businesses operating in several other states as well as Canada and Mexico.
Having examined the options trading patterns of Comerica, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Comerica Standing Right Now?
- Currently trading with a volume of 1,464,343, the CMA's price is up by 2.24%, now at $53.51.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 67 days.
What Analysts Are Saying About Comerica
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $54.4.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Comerica with a target price of $52.
- Reflecting concerns, an analyst from Truist Securities lowers its rating to Hold with a new price target of $53.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Comerica, targeting a price of $50.
- Consistent in their evaluation, an analyst from Barclays keeps a Underweight rating on Comerica with a target price of $56.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Comerica, targeting a price of $61.
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 Comerica 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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