Deep-pocketed investors have adopted a bullish approach towards DexCom DXCM, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DXCM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for DexCom. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 66% leaning bullish and 33% bearish. Among these notable options, 2 are puts, totaling $188,584, and 10 are calls, amounting to $498,734.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $90.0 to $165.0 for DexCom during the past quarter.
Volume & Open Interest Development
In today's trading context, the average open interest for options of DexCom stands at 2667.83, with a total volume reaching 6,773.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in DexCom, situated within the strike price corridor from $90.0 to $165.0, throughout the last 30 days.
DexCom 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DXCM | PUT | SWEEP | BEARISH | 12/15/23 | $90.00 | $152.6K | 1.4K | 72 |
| DXCM | CALL | TRADE | BULLISH | 01/19/24 | $105.00 | $97.5K | 925 | 0 |
| DXCM | CALL | SWEEP | BULLISH | 11/17/23 | $100.00 | $61.2K | 7.0K | 164 |
| DXCM | CALL | TRADE | BULLISH | 11/17/23 | $100.00 | $60.7K | 7.0K | 664 |
| DXCM | CALL | SWEEP | BULLISH | 11/17/23 | $100.00 | $52.5K | 7.0K | 1.6K |
About DexCom
Dexcom designs and commercializes continuous glucose monitoring systems for diabetic patients. CGM systems serve as an alternative to the traditional blood glucose meter process, and the company is evolving its CGM systems to provide integration with insulin pumps from Insulet and Tandem for automatic insulin delivery.
After a thorough review of the options trading surrounding DexCom, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is DexCom Standing Right Now?
- Currently trading with a volume of 1,653,040, the DXCM's price is up by 2.16%, now at $100.47.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 86 days.
Expert Opinions on DexCom
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $103.66666666666667.
- In a cautious move, an analyst from Leerink Partners downgraded its rating to Outperform, setting a price target of $110.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for DexCom, targeting a price of $100.
- An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on DexCom, which currently sits at a price target of $101.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for DexCom with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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