Deep-pocketed investors have adopted a bullish approach towards 3M MMM, 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 MMM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for 3M. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 40% leaning bullish and 30% bearish. Among these notable options, 2 are puts, totaling $407,220, and 8 are calls, amounting to $1,162,337.
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 $70.0 to $175.0 for 3M during the past quarter.
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 $70.0 to $175.0 in the last 30 days.
3M 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MMM | CALL | SWEEP | BULLISH | 01/17/25 | $17.9 | $17.55 | $17.77 | $120.00 | $530.8K | 1.4K | 302 |
| MMM | CALL | TRADE | BEARISH | 01/16/26 | $18.65 | $18.0 | $18.2 | $135.00 | $252.9K | 413 | 139 |
| MMM | PUT | TRADE | BULLISH | 03/21/25 | $8.0 | $7.9 | $7.9 | $140.00 | $236.2K | 442 | 301 |
| MMM | PUT | SWEEP | BULLISH | 01/24/25 | $5.0 | $4.9 | $4.9 | $138.00 | $171.0K | 212 | 356 |
| MMM | CALL | TRADE | BEARISH | 01/24/25 | $4.4 | $4.3 | $4.3 | $138.00 | $153.0K | 85 | 500 |
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.
Present Market Standing of 3M
- Currently trading with a volume of 864,364, the MMM's price is down by -0.34%, now at $137.31.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 5 days.
What Analysts Are Saying About 3M
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $139.66666666666666.
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. * An analyst from Barclays has decided to maintain their Overweight rating on 3M, which currently sits at a price target of $161. * An analyst from JP Morgan persists with their Overweight rating on 3M, maintaining a target price of $162. * Maintaining their stance, an analyst from RBC Capital continues to hold a Underperform rating for 3M, targeting a price of $96.
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.
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