Investors with a lot of money to spend have taken a bearish stance on DexCom DXCM.
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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with DXCM, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for DexCom.
This isn't normal.
The overall sentiment of these big-money traders is split between 27% bullish and 63%, bearish.
Out of all of the options we uncovered, 10 are puts, for a total amount of $606,156, and there was 1 call, for a total amount of $391,000.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $60.0 to $75.0 for DexCom during the past quarter.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of DexCom stands at 398.14, with a total volume reaching 11,462.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in DexCom, situated within the strike price corridor from $60.0 to $75.0, throughout the last 30 days.
DexCom Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DXCM | CALL | TRADE | NEUTRAL | 11/15/24 | $4.7 | $4.5 | $4.6 | $75.00 | $390.9K | 544 | 861 |
| DXCM | PUT | SWEEP | BEARISH | 09/06/24 | $1.65 | $0.9 | $1.55 | $70.00 | $132.8K | 105 | 857 |
| DXCM | PUT | SWEEP | BULLISH | 06/20/25 | $6.8 | $6.7 | $6.8 | $60.00 | $80.9K | 593 | 89 |
| DXCM | PUT | SWEEP | BULLISH | 09/06/24 | $1.7 | $1.4 | $1.4 | $69.00 | $62.4K | 394 | 54 |
| DXCM | PUT | SWEEP | BEARISH | 09/06/24 | $2.3 | $2.1 | $2.25 | $70.00 | $56.2K | 105 | 2.5K |
About DexCom
Dexcom designs and commercializes continuous glucose monitoring systems for diabetic patients. CGM systems serve as an alternative to the traditional blood glucose meter process, and the company is evolving its CGM systems to provide integration with insulin pumps from Insulet and Tandem for automatic insulin delivery.
Having examined the options trading patterns of DexCom, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of DexCom
- Currently trading with a volume of 1,665,804, the DXCM's price is up by 0.3%, now at $69.83.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 55 days.
What The Experts Say On DexCom
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $90.66666666666667.
- In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $90.
- An analyst from Baird has decided to maintain their Neutral rating on DexCom, which currently sits at a price target of $82.
- Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for DexCom, targeting a price of $100.
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 DexCom with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
