High-rolling investors have positioned themselves bullish on DexCom DXCM, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in DXCM often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for DexCom. This is not a typical pattern.
The sentiment among these major traders is split, with 62% bullish and 37% bearish. Among all the options we identified, there was one put, amounting to $27,607, and 7 calls, totaling $251,930.
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 $85.0 to $131.0 for DexCom over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for DexCom options trades today is 82.67 with a total volume of 2,943.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for DexCom's big money trades within a strike price range of $85.0 to $131.0 over the last 30 days.
DexCom 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DXCM | CALL | TRADE | BEARISH | 02/09/24 | $127.00 | $45.9K | 115 | 148 |
| DXCM | CALL | TRADE | NEUTRAL | 02/16/24 | $131.00 | $35.2K | 37 | 801 |
| DXCM | CALL | TRADE | BULLISH | 02/16/24 | $131.00 | $34.5K | 37 | 701 |
| DXCM | CALL | TRADE | BEARISH | 02/16/24 | $131.00 | $34.5K | 37 | 501 |
| DXCM | CALL | SWEEP | BULLISH | 02/16/24 | $131.00 | $34.2K | 37 | 401 |
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.
In light of the recent options history for DexCom, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of DexCom
- With a volume of 606,627, the price of DXCM is up 0.07% at $126.7.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 0 days.
Expert Opinions on DexCom
In the last month, 1 experts released ratings on this stock with an average target price of $151.0.
- An analyst from Raymond James has decided to maintain their Strong Buy rating on DexCom, which currently sits at a price target of $151.
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.
© 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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