A whale with a lot of money to spend has taken a noticeably bullish stance on McDonald's.
Looking at options history for McDonald's MCD we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $329,657 and 6, calls, for a total amount of $244,314.
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 $265.0 to $300.0 for McDonald's over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for McDonald's options trades today is 880.12 with a total volume of 671.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for McDonald's's big money trades within a strike price range of $265.0 to $300.0 over the last 30 days.
McDonald's 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 |
|---|---|---|---|---|---|---|---|---|
| MCD | PUT | SWEEP | BULLISH | 12/15/23 | $290.00 | $160.4K | 719 | 130 |
| MCD | PUT | SWEEP | BULLISH | 10/20/23 | $275.00 | $94.5K | 2.0K | 104 |
| MCD | CALL | SWEEP | BULLISH | 01/17/25 | $300.00 | $62.8K | 1.2K | 54 |
| MCD | CALL | SWEEP | BEARISH | 06/21/24 | $290.00 | $57.7K | 346 | 55 |
| MCD | CALL | TRADE | BULLISH | 10/13/23 | $280.00 | $45.3K | 361 | 294 |
Where Is McDonald's Standing Right Now?
- With a volume of 2,368,214, the price of MCD is down -2.16% at $271.22.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 35 days.
What The Experts Say On McDonald's:
- Tigress Financial has decided to maintain their Buy rating on McDonald's, which currently sits at a price target of $355.
- Truist Securities has decided to maintain their Buy rating on McDonald's, which currently sits at a price target of $335.
- TD Cowen downgraded its action to Outperform with a price target of $340
- Wells Fargo upgraded its action to Overweight with a price target of $310
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 McDonald's, 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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