Deep-pocketed investors have adopted a bearish approach towards Danaher DHR, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DHR usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Danaher. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 7 are puts, totaling $711,336, and 2 are calls, amounting to $80,763.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $230.0 and $247.5 for Danaher, spanning the last three months.
Insights into 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 Danaher's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Danaher's substantial trades, within a strike price spectrum from $230.0 to $247.5 over the preceding 30 days.
Danaher 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DHR | PUT | TRADE | BULLISH | 04/19/24 | $6.5 | $6.0 | $6.1 | $245.00 | $305.0K | 1.4K | 1.0K |
| DHR | PUT | SWEEP | BEARISH | 04/19/24 | $6.3 | $6.2 | $6.3 | $245.00 | $154.1K | 1.4K | 322 |
| DHR | PUT | SWEEP | BEARISH | 04/19/24 | $4.1 | $4.0 | $4.0 | $240.00 | $73.6K | 1.0K | 970 |
| DHR | PUT | SWEEP | BEARISH | 04/19/24 | $3.9 | $3.8 | $3.8 | $240.00 | $58.9K | 1.0K | 949 |
| DHR | PUT | SWEEP | BEARISH | 04/19/24 | $6.6 | $6.5 | $6.6 | $245.00 | $51.4K | 1.4K | 152 |
About Danaher
In 1984, Danaher's founders transformed a real estate organization into an industrial-focused manufacturing company. Through a series of mergers, acquisitions, and divestitures, Danaher now focuses primarily on manufacturing scientific instruments and consumables in two segments--life sciences and diagnostics--after the late 2023 divesititure of its environmental and applied solutions group, Veralto.
After a thorough review of the options trading surrounding Danaher, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Danaher's Current Market Status
- Trading volume stands at 997,965, with DHR's price down by -0.87%, positioned at $241.88.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 11 days.
What The Experts Say On Danaher
In the last month, 1 experts released ratings on this stock with an average target price of $260.0.
- Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Danaher, targeting a price of $260.
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 Danaher, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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