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 8 options transactions for PNC Finl Servs Gr. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 12% being bullish and 87% bearish. Of all the options we discovered, 7 are puts, valued at $259,000, and there was a single call, worth $42,975.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $155.0 and $160.0 for PNC Finl Servs Gr, spanning the last three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in PNC Finl Servs Gr's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to PNC Finl Servs Gr's substantial trades, within a strike price spectrum from $155.0 to $160.0 over the preceding 30 days.
PNC Finl Servs Gr Option Activity Analysis: 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 | 01/05/24 | $155.00 | $42.9K | 121 | 573 |
| PNC | PUT | SWEEP | BEARISH | 03/15/24 | $160.00 | $37.2K | 126 | 246 |
| PNC | PUT | SWEEP | BEARISH | 03/15/24 | $160.00 | $37.2K | 126 | 66 |
| PNC | PUT | SWEEP | BEARISH | 03/15/24 | $160.00 | $36.9K | 126 | 165 |
| PNC | PUT | SWEEP | BEARISH | 03/15/24 | $160.00 | $36.9K | 126 | 180 |
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.
Present Market Standing of PNC Finl Servs Gr
- With a trading volume of 215,450, the price of PNC is down by -1.0%, reaching $150.15.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 12 days from now.
What Analysts Are Saying About PNC Finl Servs Gr
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $147.095.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on PNC Finl Servs Gr with a target price of $143.
- An analyst from Goldman Sachs has decided to maintain their Neutral rating on PNC Finl Servs Gr, which currently sits at a price target of $147.
- Maintaining their stance, an analyst from Keefe, Bruyette & Woods continues to hold a Underperform rating for PNC Finl Servs Gr, targeting a price of $145.
- An analyst from Odeon Capital has elevated its stance to Buy, setting a new price target at $153.
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 PNC Finl Servs Gr with Benzinga Pro for real-time alerts.
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