Investors with significant funds have taken a bearish position in PNC Finl Servs Gr PNC, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in PNC usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 11 options transactions for PNC Finl Servs Gr. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 36% being bullish and 63% bearish. Of all the options we discovered, 10 are puts, valued at $419,731, and there was a single call, worth $59,400.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $115.0 to $145.0 for PNC Finl Servs Gr over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for PNC Finl Servs Gr options trades today is 256.0 with a total volume of 2,784.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for PNC Finl Servs Gr's big money trades within a strike price range of $115.0 to $145.0 over the last 30 days.
PNC Finl Servs Gr 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 |
|---|---|---|---|---|---|---|---|---|
| PNC | CALL | SWEEP | BULLISH | 01/19/24 | $115.00 | $59.4K | 398 | 22 |
| PNC | PUT | TRADE | BULLISH | 03/15/24 | $145.00 | $55.9K | 114 | 362 |
| PNC | PUT | SWEEP | BULLISH | 03/15/24 | $145.00 | $55.8K | 114 | 307 |
| PNC | PUT | SWEEP | BEARISH | 03/15/24 | $145.00 | $55.3K | 114 | 527 |
| PNC | PUT | SWEEP | BEARISH | 03/15/24 | $145.00 | $44.0K | 114 | 90 |
About PNC Finl Servs Gr
PNC Financial Services Group is a diversified financial services company offering retail banking, corporate and institutional banking, asset management, and residential mortgage banking across the United States.
After a thorough review of the options trading surrounding PNC Finl Servs Gr, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is PNC Finl Servs Gr Standing Right Now?
- With a trading volume of 632,322, the price of PNC is up by 0.17%, reaching $139.6.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 40 days from now.
Professional Analyst Ratings for PNC Finl Servs Gr
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $133.0.
- An analyst from Goldman Sachs persists with their Neutral rating on PNC Finl Servs Gr, maintaining a target price of $128.
- Reflecting concerns, an analyst from Stephens & Co. lowers its rating to Equal-Weight with a new price target of $138.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest PNC Finl Servs Gr options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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