Investors with a lot of money to spend have taken a bearish stance on Medtronic MDT.
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 MDT, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Medtronic.
This isn't normal.
The overall sentiment of these big-money traders is split between 20% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $30,528, and 9, calls, for a total amount of $634,635.
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 $82.5 and $97.5 for Medtronic, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Medtronic'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 Medtronic's whale activity within a strike price range from $82.5 to $97.5 in the last 30 days.
Medtronic 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MDT | CALL | SWEEP | BEARISH | 10/18/24 | $1.2 | $1.19 | $1.19 | $90.00 | $143.3K | 7.6K | 1.7K |
| MDT | CALL | SWEEP | BEARISH | 12/20/24 | $2.16 | $2.1 | $2.1 | $92.50 | $86.9K | 592 | 1.6K |
| MDT | CALL | SWEEP | NEUTRAL | 12/20/24 | $2.19 | $2.13 | $2.13 | $92.50 | $63.9K | 592 | 960 |
| MDT | CALL | SWEEP | NEUTRAL | 12/20/24 | $2.19 | $2.13 | $2.13 | $92.50 | $63.9K | 592 | 660 |
| MDT | CALL | SWEEP | NEUTRAL | 12/20/24 | $2.2 | $2.11 | $2.11 | $92.50 | $63.3K | 592 | 60 |
About Medtronic
One of the largest medical-device companies, Medtronic develops and manufactures therapeutic medical devices for chronic diseases. Its portfolio includes pacemakers, defibrillators, heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, advanced energy, and surgical tools. The company markets its products to healthcare institutions and physicians in the United States and overseas. Foreign sales account for roughly 50% of the company's total sales.
After a thorough review of the options trading surrounding Medtronic, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Medtronic's Current Market Status
- Trading volume stands at 2,862,431, with MDT's price up by 0.74%, positioned at $90.0.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 57 days.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access.
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 Medtronic, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
