Investors with a lot of money to spend have taken a bearish stance on Exact Sciences EXAS.
And retail traders should know.
We noticed this today when the trades 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 EXAS, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 11 uncommon options trades for Exact Sciences.
This isn't normal.
The overall sentiment of these big-money traders is split between 36% bullish and 63%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $58,919, and 9 are calls, for a total amount of $1,055,467.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $45.0 and $80.0 for Exact Sciences, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Exact Sciences options trades today is 4119.88 with a total volume of 8,548.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Exact Sciences's big money trades within a strike price range of $45.0 to $80.0 over the last 30 days.
Exact Sciences Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| EXAS | CALL | TRADE | BEARISH | 04/19/24 | $65.00 | $410.0K | 20.2K | 1.0K |
| EXAS | CALL | TRADE | BULLISH | 04/19/24 | $67.50 | $205.4K | 1.5K | 368 |
| EXAS | CALL | TRADE | NEUTRAL | 04/19/24 | $70.00 | $165.7K | 4.1K | 1.0K |
| EXAS | CALL | SWEEP | BEARISH | 04/19/24 | $67.50 | $99.0K | 1.5K | 310 |
| EXAS | CALL | SWEEP | BEARISH | 04/19/24 | $67.50 | $42.7K | 1.5K | 1.1K |
About Exact Sciences
Exact Sciences Corporation, headquartered in Madison, Wisconsin, provides cancer screening and diagnostic test products in the United States and internationally. Exact's Cologuard screening test, a noninvasive stool-based DNA test, is a pre-cancer screening test for colorectal cancer. The company also competes in the precision oncology market with Oncotype DX, a suite of tissue-based genomic tests for estimating recurrence risk and likelihood of benefit from chemotherapy for breast and colon cancer, and OncoExTra, a liquid-based comprehensive genomic profiling test. It is developing liquid biopsy tests for molecular residual disease, colorectal cancer screening, and multicancer screening, too.
Following our analysis of the options activities associated with Exact Sciences, we pivot to a closer look at the company's own performance.
Present Market Standing of Exact Sciences
- Currently trading with a volume of 944,955, the EXAS's price is down by -0.07%, now at $58.82.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 49 days.
Expert Opinions on Exact Sciences
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $90.0.
- An analyst from Canaccord Genuity persists with their Buy rating on Exact Sciences, maintaining a target price of $90.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Exact Sciences, Benzinga Pro gives you real-time options trades 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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