Market Whales and Their Recent Bets on MMM Options

Financial giants have made a conspicuous bearish move on 3M. Our analysis of options history for 3M MMM revealed 25 unusual trades.

Delving into the details, we found 36% of traders were bullish, while 64% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $504,504, and 18 were calls, valued at $1,418,223.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $50.0 to $115.0 for 3M during the past quarter.

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 3M'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 3M's whale trades within a strike price range from $50.0 to $115.0 in the last 30 days.

3M Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About 3M

3M is a multinational conglomerate that has operated since 1902, when it was known as Minnesota Mining and Manufacturing. The company is well known for its research and development laboratory and it leverages its science and technology across multiple product categories. As of 2020, 3M is organized into four business segments: safety and industrial, transportation and electronics, healthcare, and consumer. Nearly 50% of the company's revenue comes from outside the Americas, with the safety and industrial segment constituting a plurality of net sales. Many of the company's 60,000-plus products touch and concern a variety of consumers and end markets.

Having examined the options trading patterns of 3M, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of 3M

• With a trading volume of 7,751,318, the price of MMM is up by 1.18%, reaching $99.88.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 41 days from now.

Professional Analyst Ratings for 3M

2 market experts have recently issued ratings for this stock, with a consensus target price of $97.5.

• Consistent in their evaluation, an analyst from RBC Capital keeps a Underperform rating on 3M with a target price of $84.
• Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on 3M with a target price of $111.

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 3M with Benzinga Pro for real-time alerts.