Financial giants have made a conspicuous bearish move on 3M. Our analysis of options history for 3M MMM revealed 13 unusual trades.
Delving into the details, we found 38% of traders were bullish, while 53% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $1,648,655, and 5 were calls, valued at $170,769.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $110.0 to $150.0 for 3M over the recent 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 3M's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to 3M's substantial trades, within a strike price spectrum from $110.0 to $150.0 over the preceding 30 days.
3M 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MMM | PUT | TRADE | BEARISH | 12/19/25 | $18.5 | $17.8 | $18.5 | $140.00 | $1.1M | 1 | 600 |
| MMM | PUT | TRADE | BULLISH | 10/18/24 | $5.4 | $5.25 | $5.3 | $135.00 | $159.0K | 360 | 681 |
| MMM | PUT | SWEEP | BEARISH | 01/16/26 | $25.2 | $23.1 | $25.2 | $150.00 | $131.0K | 0 | 0 |
| MMM | PUT | SWEEP | BEARISH | 11/15/24 | $10.4 | $10.05 | $10.34 | $140.00 | $50.6K | 93 | 99 |
| MMM | PUT | SWEEP | BULLISH | 11/15/24 | $10.35 | $10.05 | $10.32 | $140.00 | $50.5K | 93 | 148 |
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.
Current Position of 3M
- Currently trading with a volume of 1,898,650, the MMM's price is up by 0.55%, now at $131.57.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 48 days.
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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