IBM Unusual Options Activity For October 29

Investors with a lot of money to spend have taken a bearish stance on IBM IBM.

And retail traders should know.

We noticed this today when the trades 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 IBM, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 9 uncommon options trades for IBM.

This isn't normal.

The overall sentiment of these big-money traders is split between 0% bullish and 88%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $503,327, and 3 are calls, for a total amount of $324,855.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $200.0 to $240.0 for IBM during the past quarter.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for IBM options trades today is 1082.5 with a total volume of 939.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for IBM's big money trades within a strike price range of $200.0 to $240.0 over the last 30 days.

IBM 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About IBM

IBM looks to be a part of every aspect of an enterprise's IT needs. The company primarily sells software, IT services, consulting, and hardware. IBM operates in 175 countries and employs approximately 350,000 people. The company has a robust roster of 80,000 business partners to service 5,200 clients, which includes 95% of all Fortune 500. While IBM is a B2B company, IBM's outward impact is substantial. For example, IBM manages 90% of all credit card transactions globally and is responsible for 50% of all wireless connections in the world.

After a thorough review of the options trading surrounding IBM, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of IBM

• With a volume of 600,889, the price of IBM is down -0.14% at $212.61.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 85 days.

Professional Analyst Ratings for IBM

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $251.2.

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 B of A Securities persists with their Buy rating on IBM, maintaining a target price of $250. * Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for IBM, targeting a price of $250. * An analyst from RBC Capital has decided to maintain their Outperform rating on IBM, which currently sits at a price target of $250. * An analyst from Stifel has decided to maintain their Buy rating on IBM, which currently sits at a price target of $246. * An analyst from BMO Capital persists with their Market Perform rating on IBM, maintaining a target price of $260.

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 IBM options trades with real-time alerts from Benzinga Pro.