DexCom Options Trading: A Deep Dive into Market Sentiment

Investors with a lot of money to spend have taken a bullish stance on DexCom DXCM.

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 DXCM, 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 DexCom.

This isn't normal.

The overall sentiment of these big-money traders is split between 55% bullish and 11%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $351,574, and 3 are calls, for a total amount of $404,070.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $65.0 to $95.0 for DexCom over the last 3 months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of DexCom stands at 302.88, with a total volume reaching 1,003.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in DexCom, situated within the strike price corridor from $65.0 to $95.0, throughout the last 30 days.

DexCom Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About DexCom

Dexcom designs and commercializes continuous glucose monitoring systems for diabetic patients. CGM systems serve as an alternative to the traditional blood glucose meter process, and the company is evolving its CGM systems to provide integration with insulin pumps from Insulet and Tandem for automatic insulin delivery.

Where Is DexCom Standing Right Now?

• Currently trading with a volume of 2,398,420, the DXCM's price is down by -1.84%, now at $69.42.
• RSI readings suggest the stock is currently may be oversold.
• Anticipated earnings release is in 44 days.

Professional Analyst Ratings for DexCom

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $96.33.

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. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for DexCom, targeting a price of $104. * An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on DexCom, which currently sits at a price target of $82. * Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for DexCom, targeting a price of $103.

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 DexCom, Benzinga Pro gives you real-time options trades alerts.