Deep-pocketed investors have adopted a bearish approach towards Tenet Healthcare THC, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in THC usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Tenet Healthcare. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 36% leaning bullish and 54% bearish. Among these notable options, 2 are puts, totaling $50,501, and 9 are calls, amounting to $2,559,675.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $80.0 to $170.0 for Tenet Healthcare over the recent three 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 Tenet Healthcare'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 Tenet Healthcare's whale activity within a strike price range from $80.0 to $170.0 in the last 30 days.
Tenet Healthcare Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| THC | CALL | SWEEP | BULLISH | 06/20/25 | $68.0 | $68.0 | $68.0 | $80.00 | $550.8K | 8 | 270 |
| THC | CALL | SWEEP | BEARISH | 06/20/25 | $68.1 | $68.0 | $68.0 | $80.00 | $530.4K | 8 | 288 |
| THC | CALL | SWEEP | BULLISH | 06/20/25 | $67.1 | $67.1 | $67.1 | $80.00 | $503.2K | 8 | 96 |
| THC | CALL | SWEEP | BULLISH | 06/20/25 | $67.7 | $67.6 | $67.6 | $80.00 | $471.1K | 8 | 186 |
| THC | CALL | SWEEP | BEARISH | 06/20/25 | $68.1 | $68.0 | $68.0 | $80.00 | $122.4K | 8 | 487 |
About Tenet Healthcare
Tenet Healthcare is a Dallas-based healthcare services organization. It operates a collection of hospitals (about 50 as of July 2024) and over 500 ambulatory surgery centers and other outpatient facilities across the U.S., primarily in the South. Through its Conifer segment, Tenet also provides revenue cycle management solutions.
Following our analysis of the options activities associated with Tenet Healthcare, we pivot to a closer look at the company's own performance.
Present Market Standing of Tenet Healthcare
- Currently trading with a volume of 1,180,448, the THC's price is down by -2.04%, now at $148.74.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 77 days.
What The Experts Say On Tenet Healthcare
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $197.0.
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 Barclays persists with their Overweight rating on Tenet Healthcare, maintaining a target price of $190. * An analyst from Wells Fargo has decided to maintain their Overweight rating on Tenet Healthcare, which currently sits at a price target of $205. * An analyst from Goldman Sachs has decided to maintain their Buy rating on Tenet Healthcare, which currently sits at a price target of $196. * Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Tenet Healthcare, targeting a price of $217. * An analyst from Cantor Fitzgerald has decided to maintain their Overweight rating on Tenet Healthcare, which currently sits at a price target of $177.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Tenet Healthcare with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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