Spotlight on McKesson: Analyzing the Surge in Options Activity - McKesson (NYSE:MCK)

Investors with significant funds have taken a bullish position in McKesson (NYSE:MCK), a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in MCK usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 12 options transactions for McKesson. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 58% being bullish and 25% bearish. Of all the options we discovered, 11 are puts, valued at $743,330, and there was a single call, worth $40,950.

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 $500.0 to $550.0 for McKesson over the last 3 months.

Insights into Volume & Open Interest

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 McKesson'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 McKesson's whale trades within a strike price range from $500.0 to $550.0 in the last 30 days.

McKesson Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
MCK	PUT	SWEEP	BULLISH	09/20/24	$45.1	$43.2	$43.2	$550.00	$203.0K	256	125
MCK	PUT	SWEEP	BEARISH	10/18/24	$9.8	$6.6	$9.0	$500.00	$121.5K	648	358
MCK	PUT	SWEEP	BULLISH	10/18/24	$7.4	$7.1	$7.1	$500.00	$53.9K	648	121
MCK	PUT	TRADE	NEUTRAL	09/20/24	$45.5	$41.4	$43.8	$550.00	$52.5K	256	12
MCK	PUT	TRADE	BULLISH	09/20/24	$45.2	$43.7	$43.7	$550.00	$48.0K	256	55

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.

Present Market Standing of McKesson

Currently trading with a volume of 246,110, the MCK's price is down by -0.55%, now at $505.38.
RSI readings suggest the stock is currently may be approaching oversold.
Anticipated earnings release is in 40 days.

Expert Opinions on McKesson

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $610.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on McKesson, which currently sits at a price target of $535. * An analyst from Leerink Partners persists with their Outperform rating on McKesson, maintaining a target price of $665. * An analyst from Citigroup persists with their Buy rating on McKesson, maintaining a target price of $630.

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 McKesson with Benzinga Pro for real-time alerts.

MCKMcKesson Corp

$840.90-%

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