Check Out What Whales Are Doing With MCK

Investors with a lot of money to spend have taken a bullish stance on McKesson MCK.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with MCK, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 9 uncommon options trades for McKesson.

This isn't normal.

The overall sentiment of these big-money traders is split between 55% bullish and 33%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $131,190, and 6 are calls, for a total amount of $295,847.

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 $270.0 to $600.0 for McKesson during the past quarter.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for McKesson options trades today is 137.86 with a total volume of 549.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for McKesson's big money trades within a strike price range of $270.0 to $600.0 over the last 30 days.

McKesson 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About McKesson

McKesson Corp is one of three leading pharmaceutical wholesalers in the us 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 us pharmaceutical wholesale industry. Outside the us 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.

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

Current Position of McKesson

• With a volume of 574,760, the price of MCK is up 1.58% at $564.52.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 75 days.

What Analysts Are Saying About McKesson

In the last month, 5 experts released ratings on this stock with an average target price of $603.0.

• Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on McKesson with a target price of $671.
• Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for McKesson, targeting a price of $596.
• Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for McKesson, targeting a price of $652.
• Maintaining their stance, an analyst from Deutsche Bank continues to hold a Buy rating for McKesson, targeting a price of $545.
• Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for McKesson, targeting a price of $551.

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.