Investors with a lot of money to spend have taken a bullish stance on McKesson MCK.
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 MCK, 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 20 uncommon options trades for McKesson.
This isn't normal.
The overall sentiment of these big-money traders is split between 65% bullish and 35%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $538,721, and 12 are calls, for a total amount of $842,156.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $450.0 to $520.0 for McKesson during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for McKesson options trades today is 166.17 with a total volume of 3,049.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for McKesson's big money trades within a strike price range of $450.0 to $520.0 over the last 30 days.
McKesson Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MCK | CALL | SWEEP | BEARISH | 11/08/24 | $13.8 | $11.2 | $11.2 | $510.00 | $253.1K | 763 | 250 |
| MCK | CALL | SWEEP | BEARISH | 11/08/24 | $12.8 | $12.0 | $12.7 | $507.50 | $158.8K | 0 | 125 |
| MCK | PUT | SWEEP | BULLISH | 02/21/25 | $15.8 | $14.8 | $14.8 | $450.00 | $106.5K | 7 | 72 |
| MCK | PUT | TRADE | BEARISH | 02/21/25 | $15.9 | $12.9 | $14.7 | $450.00 | $94.0K | 7 | 136 |
| MCK | PUT | TRADE | BULLISH | 02/21/25 | $15.7 | $14.3 | $14.6 | $450.00 | $87.6K | 7 | 196 |
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.
In light of the recent options history for McKesson, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of McKesson
- Currently trading with a volume of 455,253, the MCK's price is up by 0.02%, now at $499.28.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 7 days.
What Analysts Are Saying About McKesson
In the last month, 1 experts released ratings on this stock with an average target price of $630.0.
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. * An analyst from Leerink Partners persists with their Outperform rating on McKesson, maintaining a target price of $630.
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 McKesson, 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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