A whale with a lot of money to spend has taken a noticeably bullish stance on Medtronic.
Looking at options history for Medtronic MDT we detected 20 strange trades.
If we consider the specifics of each trade, it is accurate to state that 55% of the investors opened trades with bullish expectations and 45% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $243,260 and 16, calls, for a total amount of $2,852,734.
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 $70.0 to $92.5 for Medtronic over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Medtronic options trades today is 1138.67 with a total volume of 23,165.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Medtronic's big money trades within a strike price range of $70.0 to $92.5 over 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 | CALL | SWEEP | BULLISH | 06/16/23 | $70.00 | $1.2M | 2.4K | 23 |
| MDT | CALL | SWEEP | BULLISH | 06/16/23 | $70.00 | $260.0K | 2.4K | 1.3K |
| MDT | CALL | SWEEP | BULLISH | 06/16/23 | $70.00 | $258.0K | 2.4K | 1.6K |
| MDT | CALL | TRADE | BEARISH | 06/16/23 | $70.00 | $193.5K | 2.4K | 1.8K |
| MDT | CALL | SWEEP | BEARISH | 06/16/23 | $70.00 | $133.3K | 2.4K | 2.2K |
Where Is Medtronic Standing Right Now?
- With a volume of 3,137,260, the price of MDT is up 1.58% at $82.75.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 84 days.
What The Experts Say On Medtronic:
- Truist Securities has decided to maintain their Hold rating on Medtronic, which currently sits at a price target of $90.
- Stifel has decided to maintain their Buy rating on Medtronic, which currently sits at a price target of $92.
- Bernstein has decided to maintain their Outperform rating on Medtronic, which currently sits at a price target of $99.
- RBC Capital downgraded its action to Sector Perform with a price target of $89
- Evercore ISI Group has decided to maintain their Outperform rating on Medtronic, which currently sits at a price target of $100.
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 Medtronic, 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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