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Financial giants have made a conspicuous bearish move on Inspire Medical Systems. Our analysis of options history for Inspire Medical Systems (NYSE:INSP) revealed 8 unusual trades.
Delving into the details, we found 12% of traders were bullish, while 87% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $106,990, and 5 were calls, valued at $295,910.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $160.0 to $260.0 for Inspire Medical Systems over the recent three months.
Volume & Open Interest Trends
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 Inspire Medical Systems'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 Inspire Medical Systems's whale activity within a strike price range from $160.0 to $260.0 in the last 30 days.
Inspire Medical Systems Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| INSP | CALL | SWEEP | BEARISH | 06/21/24 | $42.3 | $40.5 | $40.5 | $210.00 | $81.0K | 220 | 71 |
| INSP | CALL | SWEEP | BEARISH | 06/21/24 | $40.6 | $40.5 | $40.5 | $210.00 | $81.0K | 220 | 46 |
| INSP | CALL | SWEEP | BEARISH | 06/21/24 | $41.5 | $40.3 | $40.3 | $210.00 | $60.4K | 220 | 76 |
| INSP | CALL | SWEEP | BEARISH | 06/21/24 | $42.4 | $40.5 | $40.5 | $210.00 | $44.5K | 220 | 15 |
| INSP | PUT | TRADE | BEARISH | 11/15/24 | $7.2 | $5.1 | $6.9 | $160.00 | $41.4K | 0 | 0 |
About Inspire Medical Systems
Inspire Medical Systems Inc operates as a medical technology company. It focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA). It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea. The firm has operating footprints in the United States and Europe wherein, it generates a majority of its revenue from the United States.
Current Position of Inspire Medical Systems
- With a trading volume of 288,415, the price of INSP is up by 1.71%, reaching $241.5.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 8 days from now.
What Analysts Are Saying About Inspire Medical Systems
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $285.0.
- In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $285.
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 Inspire Medical Systems with Benzinga Pro for real-time alerts.
MEMORIAL DAY FLASH SALE: 50% OFF BENZINGA PRO
As we honor our freedom, take a stand today. Secure the financial freedom that both you and your family deserve. Get exclusive market moving news for just 50% off. Claim your 50% discount here.
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