Investors with a lot of money to spend have taken a bullish 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 these are institutions or just wealthy individuals, we don't know. But when something this big happens with DXCM, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for DexCom.
This isn't normal.
The overall sentiment of these big-money traders is split between 37% bullish and 25%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $176,999, and 4 are calls, for a total amount of $148,385.
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 $55.0 and $75.0 for DexCom, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of DexCom stands at 890.12, with a total volume reaching 1,305.00. 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 $55.0 to $75.0, throughout the last 30 days.
DexCom Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DXCM | CALL | SWEEP | BEARISH | 01/17/25 | $11.8 | $11.6 | $11.6 | $65.00 | $62.6K | 929 | 271 |
| DXCM | PUT | SWEEP | BULLISH | 01/17/25 | $5.8 | $5.5 | $5.5 | $65.00 | $59.9K | 1.1K | 548 |
| DXCM | PUT | TRADE | NEUTRAL | 12/20/24 | $10.3 | $10.1 | $10.2 | $75.00 | $44.8K | 617 | 45 |
| DXCM | PUT | SWEEP | BEARISH | 01/16/26 | $7.8 | $7.5 | $7.7 | $55.00 | $39.2K | 122 | 54 |
| DXCM | CALL | TRADE | BULLISH | 12/20/24 | $7.8 | $7.7 | $7.8 | $70.00 | $35.1K | 1.3K | 45 |
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.
After a thorough review of the options trading surrounding DexCom, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
DexCom's Current Market Status
- With a volume of 1,428,567, the price of DXCM is up 1.31% at $69.84.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 36 days.
Expert Opinions on DexCom
2 market experts have recently issued ratings for this stock, with a consensus target price of $95.0.
- An analyst from Piper Sandler downgraded its action to Overweight with a price target of $90.
- An analyst from Stifel persists with their Buy rating on DexCom, maintaining a target 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.
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