A whale with a lot of money to spend has taken a noticeably bearish stance on McKesson.
Looking at options history for McKesson MCK we detected 22 strange trades.
If we consider the specifics of each trade, it is accurate to state that 31% of the investors opened trades with bullish expectations and 68% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $379,683 and 11, calls, for a total amount of $524,688.
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 $390.0 to $390.0 for McKesson 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 McKesson'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 McKesson's whale trades within a strike price range from $390.0 to $390.0 in the last 30 days.
McKesson 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 |
|---|---|---|---|---|---|---|---|---|
| MCK | CALL | TRADE | BEARISH | 01/19/24 | $390.00 | $76.8K | 222 | 163 |
| MCK | CALL | TRADE | BEARISH | 01/19/24 | $390.00 | $76.8K | 222 | 68 |
| MCK | PUT | TRADE | BULLISH | 01/19/24 | $390.00 | $53.8K | 175 | 68 |
| MCK | PUT | TRADE | BULLISH | 01/19/24 | $390.00 | $53.6K | 175 | 143 |
| MCK | CALL | SWEEP | BEARISH | 01/19/24 | $390.00 | $50.0K | 222 | 176 |
Where Is McKesson Standing Right Now?
- With a volume of 467,887, the price of MCK is down -0.43% at $390.37.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 82 days.
What The Experts Say On McKesson:
- Mizuho has decided to maintain their Neutral rating on McKesson, which currently sits at a price target of $390.
- TD Cowen has decided to maintain their Outperform rating on McKesson, which currently sits at a price target of $491.
- Baird has decided to maintain their Outperform rating on McKesson, which currently sits at a price target of $475.
- B of A Securities has decided to maintain their Buy rating on McKesson, which currently sits at a price target of $470.
- Credit Suisse has decided to maintain their Outperform rating on McKesson, which currently sits at a price target of $450.
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 McKesson, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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