Investors with a lot of money to spend have taken a bullish stance on Exact Sciences EXAS.
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 EXAS, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Exact Sciences.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 33%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $117,000, and 8, calls, for a total amount of $372,081.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $55.0 to $85.0 for Exact Sciences during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Exact Sciences options trades today is 1016.57 with a total volume of 2,211.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Exact Sciences's big money trades within a strike price range of $55.0 to $85.0 over the last 30 days.
Exact Sciences 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EXAS | PUT | TRADE | BULLISH | 11/15/24 | $4.3 | $3.9 | $3.9 | $65.00 | $117.0K | 10 | 300 |
| EXAS | CALL | SWEEP | BEARISH | 09/20/24 | $3.0 | $2.4 | $2.4 | $67.50 | $59.0K | 4.1K | 1.1K |
| EXAS | CALL | SWEEP | NEUTRAL | 10/18/24 | $14.7 | $14.5 | $14.6 | $55.00 | $58.3K | 1.8K | 279 |
| EXAS | CALL | TRADE | BEARISH | 01/17/25 | $3.3 | $2.4 | $2.75 | $85.00 | $55.0K | 131 | 201 |
| EXAS | CALL | TRADE | BEARISH | 01/17/25 | $11.7 | $10.4 | $10.9 | $62.50 | $52.3K | 421 | 52 |
About Exact Sciences
Exact Sciences Corporation, headquartered in Madison, Wisconsin, provides cancer screening and diagnostic test products in the United States and internationally. Exact's Cologuard screening test, a noninvasive stool-based DNA test, is a pre-cancer screening test for colorectal cancer. The company also competes in the precision oncology market with Oncotype DX, a suite of tissue-based genomic tests for estimating recurrence risk and likelihood of benefit from chemotherapy for breast and colon cancer, and OncoExTra, a liquid-based comprehensive genomic profiling test. It is developing liquid biopsy tests for molecular residual disease, colorectal cancer screening, and multicancer screening, too.
Exact Sciences's Current Market Status
- With a trading volume of 3,695,220, the price of EXAS is up by 1.8%, reaching $66.72.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 44 days from now.
What The Experts Say On Exact Sciences
In the last month, 3 experts released ratings on this stock with an average target price of $78.33333333333333.
- An analyst from Wells Fargo downgraded its action to Overweight with a price target of $75.
- Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for Exact Sciences, targeting a price of $75.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Exact Sciences, targeting a price of $85.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Exact Sciences, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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