Financial giants have made a conspicuous bullish move on Medtronic. Our analysis of options history for Medtronic (NYSE:MDT) revealed 23 unusual trades.
Delving into the details, we found 47% of traders were bullish, while 34% showed bearish tendencies. Out of all the trades we spotted, 9 were puts, with a value of $396,514, and 14 were calls, valued at $1,150,650.
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 $80.0 to $87.5 for Medtronic over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Medtronic'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 Medtronic's whale trades within a strike price range from $80.0 to $87.5 in the last 30 days.
Medtronic 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MDT | CALL | TRADE | BEARISH | 06/21/24 | $2.95 | $2.9 | $2.91 | $85.00 | $359.9K | 3.8K | 1.5K |
| MDT | CALL | TRADE | BULLISH | 05/17/24 | $5.3 | $4.3 | $5.25 | $81.00 | $316.5K | 1.5K | 1.2K |
| MDT | PUT | SWEEP | BEARISH | 05/24/24 | $0.96 | $0.95 | $0.95 | $84.00 | $80.7K | 311 | 971 |
| MDT | CALL | TRADE | NEUTRAL | 01/17/25 | $6.65 | $6.55 | $6.6 | $85.00 | $64.6K | 1.4K | 103 |
| MDT | PUT | SWEEP | BEARISH | 05/24/24 | $1.6 | $1.58 | $1.58 | $85.00 | $60.7K | 233 | 532 |
About Medtronic
One of the largest medical-device companies, Medtronic develops and manufactures therapeutic medical devices for chronic diseases. Its portfolio includes pacemakers, defibrillators, heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, advanced energy, and surgical tools. The company markets its products to healthcare institutions and physicians in the United States and overseas. Foreign sales account for roughly 50% of the company's total sales.
Following our analysis of the options activities associated with Medtronic, we pivot to a closer look at the company's own performance.
Current Position of Medtronic
- Trading volume stands at 4,413,785, with MDT's price up by 0.34%, positioned at $85.93.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 6 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 Medtronic options trades with real-time alerts from Benzinga Pro.