Decoding Scotts Miracle Gro's Options Activity: What's the Big Picture?

Investors with a lot of money to spend have taken a bullish stance on Scotts Miracle Gro SMG.

And retail traders should know.

We noticed this today when the positions 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 SMG, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 13 options trades for Scotts Miracle Gro.

This isn't normal.

The overall sentiment of these big-money traders is split between 76% bullish and 23%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $75,000, and 12, calls, for a total amount of $880,864.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $80.0 for Scotts Miracle Gro over the last 3 months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Scotts Miracle Gro stands at 468.75, with a total volume reaching 27,366.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Scotts Miracle Gro, situated within the strike price corridor from $55.0 to $80.0, throughout the last 30 days.

Scotts Miracle Gro Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

About Scotts Miracle Gro

Scotts Miracle-Gro is the largest purveyor of home lawn and gardening products in the us. The business consists of three reporting segments: us consumer, Hawthorne, and other. The us consumer segment consists of a broad range of lawncare products, including grass seed, fertilizer, and lawn-related weed, animal, and disease control. us consumer typically generates the vast majority of companywide revenue and profits. Hawthorne sells indoor gardening and hydroponic equipment, particularly to the cannabis growing industry, while the other segment primarily consists of lawn and gardening products sold in Canada. Its lawncare and gardening products are well-recognized brands in the us, including Scotts, Miracle-Gro, Roundup, Ortho, and Tomcat.

In light of the recent options history for Scotts Miracle Gro, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Scotts Miracle Gro

• Trading volume stands at 651,159, with SMG's price down by -4.35%, positioned at $54.76.
• RSI indicators show the stock to be may be approaching oversold.
• Earnings announcement expected in 33 days.

Professional Analyst Ratings for Scotts Miracle Gro

1 market experts have recently issued ratings for this stock, with a consensus target price of $70.0.

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. * In a positive move, an analyst from Stifel has upgraded their rating to Buy and adjusted the price target to $70.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Scotts Miracle Gro options trades with real-time alerts from Benzinga Pro.