Deep-pocketed investors have adopted a bearish approach towards Boston Scientific BSX, 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 BSX 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 Boston Scientific. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 50% bearish. Among these notable options, 6 are puts, totaling $245,954, and 2 are calls, amounting to $128,010.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $72.5 and $95.0 for Boston Scientific, spanning the last three months.
Analyzing 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 Boston Scientific's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Boston Scientific's substantial trades, within a strike price spectrum from $72.5 to $95.0 over the preceding 30 days.
Boston Scientific 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BSX | CALL | SWEEP | NEUTRAL | 08/16/24 | $2.15 | $2.05 | $2.05 | $73.50 | $102.5K | 1.1K | 500 |
| BSX | PUT | SWEEP | BEARISH | 08/16/24 | $3.1 | $3.0 | $3.02 | $77.50 | $71.4K | 9.6K | 207 |
| BSX | PUT | SWEEP | BULLISH | 08/16/24 | $3.1 | $2.85 | $2.96 | $77.50 | $42.9K | 9.6K | 502 |
| BSX | PUT | TRADE | BEARISH | 08/16/24 | $2.5 | $2.3 | $2.5 | $77.50 | $39.0K | 9.6K | 1.2K |
| BSX | PUT | TRADE | BULLISH | 01/16/26 | $19.9 | $19.7 | $19.7 | $95.00 | $33.4K | 84 | 1 |
About Boston Scientific
Boston Scientific produces less invasive medical devices that are inserted into the human body through small openings or cuts. It manufactures products for use in angioplasty, blood clot filtration, kidney stone management, cardiac rhythm management, catheter-directed ultrasound imaging, upper gastrointestinal tract diagnostics, interventional oncology, neuromodulation for chronic pain, and treatment of incontinence. The firm markets its devices to healthcare professionals and institutions globally. Foreign sales account for nearly half of the firm's total sales.
Following our analysis of the options activities associated with Boston Scientific, we pivot to a closer look at the company's own performance.
Where Is Boston Scientific Standing Right Now?
- With a volume of 2,393,379, the price of BSX is up 2.6% at $75.7.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 77 days.
Professional Analyst Ratings for Boston Scientific
In the last month, 5 experts released ratings on this stock with an average target price of $87.0.
- An analyst from Citigroup has decided to maintain their Buy rating on Boston Scientific, which currently sits at a price target of $90.
- An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $85.
- An analyst from JP Morgan has decided to maintain their Overweight rating on Boston Scientific, which currently sits at a price target of $85.
- An analyst from BTIG persists with their Buy rating on Boston Scientific, maintaining a target price of $84.
- An analyst from Raymond James persists with their Strong Buy rating on Boston Scientific, maintaining a target price of $91.
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 Boston Scientific options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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