A Closer Look at Cummins's Options Market Dynamics

Financial giants have made a conspicuous bullish move on Cummins. Our analysis of options history for Cummins CMI revealed 15 unusual trades.

Delving into the details, we found 60% of traders were bullish, while 40% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $172,300, and 11 were calls, valued at $466,289.

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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 $230.0 to $260.0 for Cummins over the last 3 months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Cummins's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Cummins's substantial trades, within a strike price spectrum from $230.0 to $260.0 over the preceding 30 days.

Cummins Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About Cummins

Cummins is the top manufacturer of diesel engines used in commercial trucks, off-highway equipment, and railroad locomotives, in addition to standby and prime power generators. The company also sells powertrain components, which include transmissions, turbochargers, aftertreatment systems, and fuel systems. Cummins is in the unique position of competing with its primary customers, heavy-duty truck manufacturers, who make and aggressively market their own engines. Despite robust competition across all its segments and increasing government regulation of carbon emissions, Cummins has maintained its leadership position in the industry.

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

Where Is Cummins Standing Right Now?

• With a trading volume of 964,812, the price of CMI is up by 15800.0%, reaching $238.5.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 0 days from now.

What Analysts Are Saying About Cummins

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $249.33333333333334.

• Consistent in their evaluation, an analyst from JP Morgan keeps a Underweight rating on Cummins with a target price of $245.
• An analyst from B of A Securities has revised its rating downward to Underperform, adjusting the price target to $225.
• Reflecting concerns, an analyst from Morgan Stanley lowers its rating to Overweight with a new price target of $278.

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 Cummins with Benzinga Pro for real-time alerts.