A whale with a lot of money to spend has taken a noticeably bearish stance on Medtronic.
Looking at options history for Medtronic MDT we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 54% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $441,001 and 3, calls, for a total amount of $121,100.
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 $60.0 to $130.0 for Medtronic over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Medtronic'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 Medtronic's whale trades within a strike price range from $60.0 to $130.0 in the last 30 days.
Medtronic Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MDT | PUT | TRADE | BULLISH | 01/20/23 | $100.00 | $103.8K | 1.0K | 0 |
| MDT | PUT | SWEEP | BEARISH | 01/20/23 | $100.00 | $69.0K | 1.0K | 154 |
| MDT | PUT | SWEEP | BEARISH | 06/17/22 | $100.00 | $66.0K | 1.0K | 9 |
| MDT | PUT | TRADE | BEARISH | 01/21/22 | $130.00 | $52.8K | 1.0K | 109 |
| MDT | PUT | TRADE | BULLISH | 01/14/22 | $98.00 | $50.6K | 10 | 667 |
Where Is Medtronic Standing Right Now?
- With a volume of 8,333,534.00, the price of MDT is down -2.33% at $102.5.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 68 days.
What The Experts Say On Medtronic:
- Oppenheimer has decided to maintain their Outperform rating on Medtronic, which currently sits at a price target of $145.
- Needham has decided to maintain their Buy rating on Medtronic, which currently sits at a price target of $145.
- Citigroup has decided to maintain their Buy rating on Medtronic, which currently sits at a price target of $146.
- Wells Fargo has decided to maintain their Overweight rating on Medtronic, which currently sits at a price target of $137.
- RBC Capital downgraded its action to Outperform with a price target of $140
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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
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