Whales with a lot of money to spend have taken a noticeably bullish stance on 3M.
Looking at options history for 3M MMM we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 40% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $307,623 and 3, calls, for a total amount of $211,035.
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 $130.0 to $150.0 for 3M during the past quarter.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for 3M's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of 3M's whale trades within a strike price range from $130.0 to $150.0 in the last 30 days.
3M Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MMM | CALL | TRADE | BULLISH | 01/17/25 | $8.05 | $8.05 | $8.05 | $135.00 | $120.7K | 1.7K | 165 |
| MMM | PUT | SWEEP | BEARISH | 11/15/24 | $13.4 | $13.15 | $13.4 | $145.00 | $52.2K | 86 | 76 |
| MMM | PUT | TRADE | BEARISH | 11/15/24 | $13.5 | $13.05 | $13.39 | $145.00 | $50.8K | 86 | 152 |
| MMM | PUT | TRADE | BEARISH | 11/15/24 | $13.45 | $13.15 | $13.33 | $145.00 | $49.3K | 86 | 37 |
| MMM | PUT | SWEEP | NEUTRAL | 11/15/24 | $13.5 | $12.7 | $13.34 | $145.00 | $48.5K | 86 | 114 |
About 3M
3M, a multinational conglomerate founded in 1902, sells tens of thousands of products ranging from sponges to respirators. The firm is well known for its extensive research and development capabilities, and it is a pioneer in inventing new use cases for its proprietary technologies. 3M is organized across three business segments: safety and industrial (representing around 44% of revenue), transportation and electronics (36%), and consumer (20%). The firm recently spun off its healthcare business, now known as Solventum. Nearly half of 3M's revenue comes from outside the Americas.
In light of the recent options history for 3M, it's now appropriate to focus on the company itself. We aim to explore its current performance.
3M's Current Market Status
- With a trading volume of 1,907,392, the price of MMM is up by 0.92%, reaching $132.82.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 54 days from now.
What The Experts Say On 3M
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $150.0.
- An analyst from Deutsche Bank has elevated its stance to Buy, setting a new price target at $150.
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 3M 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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