Looking At DexCom's Recent Unusual Options Activity

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

Today, Benzinga's options scanner spotted 9 options trades for DexCom.

This isn't normal.

The overall sentiment of these big-money traders is split between 66% bullish and 22%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $71,409, and 8, calls, for a total amount of $461,980.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $125.0 for DexCom over the last 3 months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of DexCom stands at 439.0, with a total volume reaching 1,304.00. 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 $70.0 to $125.0, throughout the last 30 days.

DexCom Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

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.

Following our analysis of the options activities associated with DexCom, we pivot to a closer look at the company's own performance.

Where Is DexCom Standing Right Now?

• Currently trading with a volume of 1,842,482, the DXCM's price is up by 2.73%, now at $70.35.
• RSI readings suggest the stock is currently may be oversold.
• Anticipated earnings release is in 41 days.

Professional Analyst Ratings for DexCom

In the last month, 3 experts released ratings on this stock with an average target price of $96.33.

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. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for DexCom, targeting a price of $82. * Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on DexCom with a target price of $104. * Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for DexCom, targeting a price of $103.

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.