Behind the Scenes of 3M's Latest Options Trends

Whales with a lot of money to spend have taken a noticeably bullish stance on 3M.

Looking at options history for 3M MMM we detected 12 trades.

If we consider the specifics of each trade, it is accurate to state that 58% of the investors opened trades with bullish expectations and 41% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $94,794 and 9, calls, for a total amount of $1,836,882.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $133.0 and $140.0 for 3M, 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 3M'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 3M's whale activity within a strike price range from $133.0 to $140.0 in the last 30 days.

3M Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About 3M

3M, a multinational conglomerate founded in 1902, sells tens of thousands of products ranging from sponges to respirators. The firm is well known for its extensive research and development capabilities, and it is a pioneer in inventing new use cases for its proprietary technologies. 3M is organized across three business segments: safety and industrial (representing around 44% of revenue), transportation and electronics (36%), and consumer (20%). The firm recently spun off its healthcare business, now known as Solventum. Nearly half of 3M's revenue comes from outside the Americas.

Following our analysis of the options activities associated with 3M, we pivot to a closer look at the company's own performance.

Where Is 3M Standing Right Now?

• With a volume of 1,143,079, the price of MMM is down -0.9% at $133.93.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 1 days.

What Analysts Are Saying About 3M

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $148.66666666666666.

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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. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for 3M, targeting a price of $140. * An analyst from Barclays has decided to maintain their Overweight rating on 3M, which currently sits at a price target of $160. * Maintaining their stance, an analyst from Mizuho continues to hold a Neutral rating for 3M, targeting a price of $146.

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 3M, Benzinga Pro gives you real-time options trades alerts.