Deep-pocketed investors have adopted a bullish approach towards Tenet Healthcare THC, 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 THC 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 Tenet Healthcare. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 62% leaning bullish and 37% bearish. Among these notable options, 2 are puts, totaling $74,410, and 6 are calls, amounting to $578,775.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $100.0 and $135.0 for Tenet Healthcare, spanning the last three months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Tenet Healthcare's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Tenet Healthcare's significant trades, within a strike price range of $100.0 to $135.0, over the past month.
Tenet Healthcare Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| THC | CALL | TRADE | BULLISH | 01/17/25 | $15.9 | $15.6 | $15.9 | $135.00 | $159.0K | 185 | 200 |
| THC | CALL | SWEEP | BEARISH | 01/17/25 | $16.2 | $15.6 | $15.61 | $135.00 | $156.0K | 185 | 300 |
| THC | CALL | SWEEP | BULLISH | 01/17/25 | $16.9 | $15.3 | $15.6 | $135.00 | $109.2K | 185 | 77 |
| THC | CALL | SWEEP | BULLISH | 01/17/25 | $15.8 | $14.6 | $15.3 | $135.00 | $76.5K | 185 | 402 |
| THC | PUT | SWEEP | BEARISH | 06/21/24 | $3.0 | $2.95 | $2.95 | $125.00 | $45.7K | 231 | 432 |
About Tenet Healthcare
Tenet Healthcare is a Dallas-based healthcare services organization. It operates a collection of hospitals (about 60 as of December 2023) and over 450 ambulatory surgery centers and other outpatient facilities across the U.S., primarily in the South. Through its Conifer segment, Tenet also provides revenue cycle management solutions.
Following our analysis of the options activities associated with Tenet Healthcare, we pivot to a closer look at the company's own performance.
Current Position of Tenet Healthcare
- Trading volume stands at 258,991, with THC's price down by -2.92%, positioned at $129.09.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 74 days.
What Analysts Are Saying About Tenet Healthcare
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $135.8.
- An analyst from Barclays has decided to maintain their Overweight rating on Tenet Healthcare, which currently sits at a price target of $147.
- Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Tenet Healthcare with a target price of $150.
- In a cautious move, an analyst from Mizuho downgraded its rating to Buy, setting a price target of $130.
- An analyst from Stephens & Co. persists with their Equal-Weight rating on Tenet Healthcare, maintaining a target price of $122.
- An analyst from Truist Securities downgraded its action to Buy with a price target of $130.
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 Tenet Healthcare with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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