Investors with a lot of money to spend have taken a bullish stance on Altria Group MO.
And retail traders should know.
We noticed this today when the positions 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 MO, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Altria Group.
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 options we uncovered, there was 1 put, for a total amount of $38,400, and 8, calls, for a total amount of $476,033.
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 $42.5 and $52.5 for Altria Group, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Altria Group stands at 2569.5, with a total volume reaching 5,424.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Altria Group, situated within the strike price corridor from $42.5 to $52.5, throughout the last 30 days.
Altria Group Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MO | CALL | SWEEP | BULLISH | 09/20/24 | $2.26 | $2.22 | $2.27 | $50.00 | $113.5K | 9.2K | 709 |
| MO | CALL | SWEEP | BULLISH | 09/20/24 | $2.26 | $2.25 | $2.26 | $50.00 | $113.0K | 9.2K | 709 |
| MO | CALL | TRADE | BEARISH | 08/23/24 | $5.6 | $5.3 | $5.3 | $46.00 | $74.2K | 230 | 140 |
| MO | CALL | SWEEP | BEARISH | 06/20/25 | $9.4 | $8.7 | $8.81 | $42.50 | $44.0K | 722 | 50 |
| MO | CALL | SWEEP | BEARISH | 09/20/24 | $1.99 | $1.93 | $1.93 | $50.00 | $39.0K | 9.2K | 1.2K |
About Altria Group
Altria comprises Philip Morris USA, us Smokeless Tobacco, John Middleton, Horizon Innovations, and Helix Innovations. Through its tobacco subsidiaries, Altria maintains the leading position in cigarettes and smokeless tobacco in the United States and the number-two spot in machine-made cigars. The company's Marlboro brand is the leading cigarette brand in the us with 42% annual share in 2023. Beyond its core business, it holds an 8% interest in the world's largest brewer, Anheuser-Busch InBev, a 42% stake in cannabis manufacturer Cronos, acquired Njoy Holdings in 2023, and operates a joint venture with Japan Tobacco in the heated tobacco category. It also recently disposed of its investment in Juul Labs.
After a thorough review of the options trading surrounding Altria Group, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Altria Group Standing Right Now?
- Currently trading with a volume of 2,976,962, the MO's price is up by 0.68%, now at $50.36.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 83 days.
What Analysts Are Saying About Altria Group
2 market experts have recently issued ratings for this stock, with a consensus target price of $51.0.
- An analyst from B of A Securities has decided to maintain their Neutral rating on Altria Group, which currently sits at a price target of $48.
- Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Altria Group, targeting a price of $54.
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 Altria Group with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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