High-rolling investors have positioned themselves bullish on MasTec MTZ, 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 MTZ often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 10 options trades for MasTec. This is not a typical pattern.
The sentiment among these major traders is split, with 70% bullish and 30% bearish. Among all the options we identified, there was one put, amounting to $32,980, and 9 calls, totaling $449,557.
Predicted Price Range
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 $120.0 for MasTec over the last 3 months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for MasTec's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across MasTec's significant trades, within a strike price range of $85.0 to $120.0, over the past month.
MasTec Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MTZ | CALL | SWEEP | BEARISH | 10/18/24 | $120.00 | $91.0K | 4 | 246 |
| MTZ | CALL | SWEEP | NEUTRAL | 04/19/24 | $95.00 | $80.1K | 914 | 921 |
| MTZ | CALL | SWEEP | BULLISH | 04/19/24 | $95.00 | $52.0K | 914 | 425 |
| MTZ | CALL | SWEEP | NEUTRAL | 04/19/24 | $95.00 | $48.8K | 914 | 1.3K |
| MTZ | CALL | SWEEP | BULLISH | 04/19/24 | $95.00 | $39.0K | 914 | 1.4K |
About MasTec
MasTec is a leading infrastructure construction company operating mainly in North America across a range of industries. The company's primary activities include the engineering, building, installation, maintenance, and upgrade of communications, oil and gas, utility, renewable energy, and other infrastructure. MasTec reports its results under five reportable segments: 1) communications; 2) clean energy and infrastructure; 3) oil and gas; 4) power delivery, and 5) other.
After a thorough review of the options trading surrounding MasTec, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of MasTec
- Currently trading with a volume of 195,917, the MTZ's price is down by 0.0%, now at $89.87.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 38 days.
What Analysts Are Saying About MasTec
In the last month, 5 experts released ratings on this stock with an average target price of $99.0.
- Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on MasTec with a target price of $97.
- Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on MasTec with a target price of $106.
- Reflecting concerns, an analyst from Truist Securities lowers its rating to Hold with a new price target of $96.
- An analyst from Craig-Hallum has elevated its stance to Buy, setting a new price target at $96.
- An analyst from DA Davidson has decided to maintain their Buy rating on MasTec, which currently sits at a price target of $100.
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 MasTec 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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