Behind the Scenes of Tenet Healthcare's Latest Options Trends

Investors with a lot of money to spend have taken a bullish stance on Tenet Healthcare THC.

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 THC, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 10 options trades for Tenet Healthcare.

This isn't normal.

The overall sentiment of these big-money traders is split between 70% bullish and 10%, bearish.

Out of all of the options we uncovered, 9 are puts, for a total amount of $536,613, and there was 1 call, for a total amount of $36,480.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $105.0 to $155.0 for Tenet Healthcare over the recent three months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Tenet Healthcare'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 Tenet Healthcare's whale activity within a strike price range from $105.0 to $155.0 in the last 30 days.

Tenet Healthcare Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

About Tenet Healthcare

Tenet Healthcare is a Dallas-based healthcare services organization. It operates a collection of hospitals (about 50 as of July 2024) and over 500 ambulatory surgery centers and other outpatient facilities across the U.S., primarily in the South. Through its Conifer segment, Tenet also provides revenue cycle management solutions.

In light of the recent options history for Tenet Healthcare, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Tenet Healthcare's Current Market Status

• With a trading volume of 208,882, the price of THC is down by -2.13%, reaching $154.26.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 5 days from now.

What The Experts Say On Tenet Healthcare

In the last month, 5 experts released ratings on this stock with an average target price of $182.2.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $168. * Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $168. * An analyst from Truist Securities persists with their Buy rating on Tenet Healthcare, maintaining a target price of $180. * Reflecting concerns, an analyst from Keybanc lowers its rating to Overweight with a new price target of $200. * An analyst from Wells Fargo persists with their Overweight rating on Tenet Healthcare, maintaining a target price of $195.

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 Tenet Healthcare, Benzinga Pro gives you real-time options trades alerts.