Investors with a lot of money to spend have taken a bullish stance on Cencora COR.
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 COR, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Cencora.
This isn't normal.
The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $64,860, and 9, calls, for a total amount of $490,600.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $210.0 and $260.0 for Cencora, spanning the last three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Cencora's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Cencora's substantial trades, within a strike price spectrum from $210.0 to $260.0 over the preceding 30 days.
Cencora 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| COR | CALL | TRADE | BEARISH | 01/17/25 | $230.00 | $105.7K | 136 | 94 |
| COR | CALL | SWEEP | BEARISH | 01/17/25 | $230.00 | $100.5K | 136 | 0 |
| COR | PUT | TRADE | BULLISH | 01/17/25 | $230.00 | $64.8K | 1 | 95 |
| COR | CALL | TRADE | BEARISH | 01/16/26 | $260.00 | $60.1K | 1.0K | 36 |
| COR | CALL | TRADE | BULLISH | 02/16/24 | $220.00 | $56.2K | 293 | 100 |
About Cencora
Cencora is one of three domestic leading pharmaceutical wholesalers. It sources and distributes branded, generic, and specialty pharmaceutical products to pharmacies (retail chains, independent, and mail order), hospital networks, and healthcare providers. It and McKesson and Cardinal Health constitute over 90% of the U.S. pharmaceutical wholesale industry. Cencora also provides commercialization services for manufacturers of pharmaceuticals and medical devices, global specialty drug logistics (World Courier), and animal health product distribution (MWI Animal Health). Cencora expanded its international presence in 2021 by purchasing Alliance Healthcare, one of the leading drug wholesalers in Europe.
Following our analysis of the options activities associated with Cencora, we pivot to a closer look at the company's own performance.
Cencora's Current Market Status
- Trading volume stands at 1,470,005, with COR's price up by 4.14%, positioned at $229.65.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 0 days.
What Analysts Are Saying About Cencora
In the last month, 1 experts released ratings on this stock with an average target price of $242.0.
- In a cautious move, an analyst from Barclays downgraded its rating to Overweight, setting a price target of $242.
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 Cencora options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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