Investors with a lot of money to spend have taken a bearish stance on Mercury General MCY.
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 MCY, 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 Mercury General.
This isn't normal.
The overall sentiment of these big-money traders is split between 11% bullish and 66%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $834,945, and 2 are calls, for a total amount of $65,193.
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 $30.0 to $50.0 for Mercury General during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Mercury General stands at 1387.6, with a total volume reaching 7,334.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Mercury General, situated within the strike price corridor from $30.0 to $50.0, throughout the last 30 days.
Mercury General Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MCY | PUT | TRADE | BEARISH | 02/21/25 | $4.0 | $3.3 | $3.8 | $45.00 | $408.5K | 3.6K | 2.3K |
| MCY | PUT | SWEEP | BULLISH | 02/21/25 | $4.1 | $3.8 | $3.8 | $45.00 | $247.0K | 3.6K | 1.2K |
| MCY | PUT | TRADE | BEARISH | 02/21/25 | $2.3 | $2.05 | $2.3 | $40.00 | $40.9K | 3.2K | 328 |
| MCY | PUT | TRADE | NEUTRAL | 02/21/25 | $2.5 | $1.95 | $2.2 | $40.00 | $38.5K | 3.2K | 503 |
| MCY | PUT | TRADE | BEARISH | 09/19/25 | $9.9 | $9.0 | $9.65 | $50.00 | $34.7K | 31 | 72 |
About Mercury General
Mercury General Corp is an insurance holding company. It is engaged in writing personal automobile insurance and provides related property and casualty insurance products. The Company offers the following types of automobile coverage: collision, property damage, bodily injury ("BI"), comprehensive, personal injury protection ("PIP"), underinsured and uninsured motorist, and other hazards. The Company offers the following types of homeowners coverage: dwelling, liability, personal property, and other coverages.
In light of the recent options history for Mercury General, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Mercury General
- With a trading volume of 806,753, the price of MCY is down by -0.86%, reaching $49.51.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 13 days from now.
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.
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 Mercury General, Benzinga Pro gives you real-time options trades alerts.
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