Deep-pocketed investors have adopted a bullish approach towards RTX RTX, 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 RTX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for RTX. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 75% leaning bullish and 25% bearish. Among these notable options, 4 are puts, totaling $188,506, and 4 are calls, amounting to $167,890.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $85.0 and $100.0 for RTX, 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 RTX's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to RTX's substantial trades, within a strike price spectrum from $85.0 to $100.0 over the preceding 30 days.
RTX Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RTX | PUT | TRADE | BULLISH | 05/17/24 | $100.00 | $68.9K | 659 | 343 |
| RTX | CALL | TRADE | BULLISH | 06/21/24 | $85.00 | $65.7K | 3.8K | 72 |
| RTX | PUT | SWEEP | NEUTRAL | 09/20/24 | $95.00 | $50.8K | 960 | 206 |
| RTX | CALL | SWEEP | BULLISH | 04/19/24 | $97.00 | $46.3K | 4.8K | 1.0K |
| RTX | PUT | SWEEP | BEARISH | 09/20/24 | $95.00 | $35.4K | 960 | 319 |
About RTX
RTX is a diversified aerospace and defense industrial company formed from the merger of United Technologies and Raytheon, with roughly equal exposure as a supplier to commercial aerospace manufacturers and to the defense market. The company operates in three segments: Collins Aerospace, a diversified aerospace supplier; Pratt & Whitney, an aircraft engine manufacturer; and Raytheon, a defense prime contractor providing a mix of missiles, missile defense systems, sensors, hardware, and communications technology to the military.
After a thorough review of the options trading surrounding RTX, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of RTX
- Currently trading with a volume of 3,701,497, the RTX's price is up by 1.02%, now at $97.04.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 27 days.
Professional Analyst Ratings for RTX
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $117.5.
- An analyst from TD Cowen has decided to maintain their Outperform rating on RTX, which currently sits at a price target of $115.
- An analyst from Wells Fargo has elevated its stance to Overweight, setting a new price target at $120.
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 RTX options trades with real-time alerts from Benzinga Pro.
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