Check Out What Whales Are Doing With MCK

Deep-pocketed investors have adopted a bearish approach towards McKesson MCK, 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 MCK usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for McKesson. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 40% leaning bullish and 60% bearish. Among these notable options, 4 are puts, totaling $194,020, and 6 are calls, amounting to $396,839.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $160.0 to $480.0 for McKesson over the recent three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for McKesson'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 McKesson's whale trades within a strike price range from $160.0 to $480.0 in the last 30 days.

McKesson 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About McKesson

McKesson Corp is one of three leading pharmaceutical wholesalers in the U.S. engaged in sourcing and distributing branded, generic, and specialty pharmaceutical products to pharmacies (retail chains, independent, and mail order), hospitals networks, and healthcare providers. Along with Cencora and Cardinal Health, the three account for over 90% of the U.S. pharmaceutical wholesale industry. Outside the U.S. market, McKesson engages in pharmaceutical wholesale and distribution in Canada. Additionally, the company supplies medical-surgical products and equipment to healthcare facilities and provides a variety of technology solutions for pharmacies.

In light of the recent options history for McKesson, it's now appropriate to focus on the company itself. We aim to explore its current performance.

McKesson's Current Market Status

• Trading volume stands at 650,475, with MCK's price up by 1.78%, positioned at $481.85.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 35 days.

What Analysts Are Saying About McKesson

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $532.5.

• Maintaining their stance, an analyst from TD Cowen continues to hold a Outperform rating for McKesson, targeting a price of $563.
• An analyst from Wells Fargo has revised its rating downward to Equal-Weight, adjusting the price target to $502.

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 McKesson, Benzinga Pro gives you real-time options trades alerts.