Financial giants have made a conspicuous bullish move on 3M. Our analysis of options history for 3M MMM revealed 17 unusual trades.
Delving into the details, we found 64% of traders were bullish, while 23% showed bearish tendencies. Out of all the trades we spotted, 11 were puts, with a value of $680,649, and 6 were calls, valued at $250,295.
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 $134.0 to $150.0 for 3M over the last 3 months.
Volume & Open Interest Trends
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 $134.0 to $150.0 in the last 30 days.
3M Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MMM | PUT | SWEEP | BULLISH | 01/17/25 | $13.6 | $13.25 | $13.32 | $145.00 | $94.6K | 588 | 581 |
| MMM | PUT | TRADE | BULLISH | 01/17/25 | $13.6 | $13.2 | $13.35 | $145.00 | $93.4K | 588 | 651 |
| MMM | PUT | TRADE | BULLISH | 12/20/24 | $20.75 | $17.85 | $18.88 | $150.00 | $84.9K | 156 | 480 |
| MMM | PUT | SWEEP | BULLISH | 12/20/24 | $17.9 | $16.75 | $16.87 | $150.00 | $76.0K | 156 | 435 |
| MMM | CALL | SWEEP | BEARISH | 11/15/24 | $3.55 | $3.55 | $3.55 | $134.00 | $59.9K | 9 | 172 |
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.
Having examined the options trading patterns of 3M, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of 3M
- With a trading volume of 6,244,678, the price of MMM is down by -1.92%, reaching $132.25.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 0 days from now.
What The Experts Say On 3M
In the last month, 3 experts released ratings on this stock with an average target price of $148.66666666666666.
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. * Consistent in their evaluation, an analyst from Mizuho keeps a Neutral rating on 3M with a target price of $146. * An analyst from Wells Fargo persists with their Equal-Weight rating on 3M, maintaining a target price of $140. * Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on 3M with a target price of $160.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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