Investors with a lot of money to spend have taken a bullish stance on IBM IBM.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with IBM, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 10 uncommon options trades for IBM.
This isn't normal.
The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $128,176, and 7 are calls, for a total amount of $215,670.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $170.0 for IBM over the last 3 months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for IBM'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 IBM's whale activity within a strike price range from $100.0 to $170.0 in the last 30 days.
IBM 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| IBM | PUT | SWEEP | BULLISH | 03/15/24 | $160.00 | $49.5K | 382 | 148 |
| IBM | PUT | TRADE | BULLISH | 02/16/24 | $170.00 | $42.4K | 286 | 15 |
| IBM | CALL | SWEEP | BEARISH | 12/22/23 | $152.50 | $37.9K | 301 | 29 |
| IBM | PUT | SWEEP | BEARISH | 04/19/24 | $170.00 | $36.2K | 85 | 31 |
| IBM | CALL | TRADE | BULLISH | 01/19/24 | $135.00 | $35.1K | 5.1K | 4 |
About IBM
IBM looks to be a part of every aspect of an enterprise's IT needs. The company primarily sells software, IT services, consulting, and hardware. IBM operates in 175 countries and employs approximately 350,000 people. The company has a robust roster of 80,000 business partners to service 5,200 clients—which includes 95% of all Fortune 500. While IBM is a B2B company, IBM's outward impact is substantial. For example, IBM manages 90% of all credit card transactions globally and is responsible for 50% of all wireless connections in the world.
After a thorough review of the options trading surrounding IBM, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of IBM
- Trading volume stands at 1,871,488, with IBM's price down by -0.19%, positioned at $161.25.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 35 days.
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 IBM with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
