Check Out What Whales Are Doing With SYK

Someone with a lot of money to spend has taken a bullish stance on Stryker SYK.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with SYK, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 10 options trades for Stryker.

This isn't normal.

The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.

Out of all of the options we uncovered, 9 are puts, for a total amount of $474,454, and there was 1 call, for a total amount of $37,440.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $240.0 to $250.0 for Stryker over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Stryker options trades today is 989.67 with a total volume of 3,398.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Stryker's big money trades within a strike price range of $240.0 to $250.0 over the last 30 days.

Stryker Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SYK PUT TRADE BULLISH 05/20/22 $250.00 $91.0K 1.0K 305
SYK PUT SWEEP BEARISH 05/20/22 $250.00 $88.0K 1.0K 371
SYK PUT TRADE BULLISH 05/20/22 $250.00 $57.6K 1.0K 526
SYK PUT TRADE BULLISH 05/20/22 $250.00 $50.5K 1.0K 442
SYK PUT TRADE BEARISH 05/20/22 $250.00 $49.2K 1.0K 220

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SYK PUT TRADE BULLISH 05/20/22 $250.00 $91.0K 1.0K 305
SYK PUT SWEEP BEARISH 05/20/22 $250.00 $88.0K 1.0K 371
SYK PUT TRADE BULLISH 05/20/22 $250.00 $57.6K 1.0K 526
SYK PUT TRADE BULLISH 05/20/22 $250.00 $50.5K 1.0K 442
SYK PUT TRADE BEARISH 05/20/22 $250.00 $49.2K 1.0K 220

Where Is Stryker Standing Right Now?

  • With a volume of 679,804, the price of SYK is down -2.84% at $238.98.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 82 days.

What The Experts Say On Stryker:

  • Piper Sandler has decided to maintain their Overweight rating on Stryker, which currently sits at a price target of $290.
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Stryker, which currently sits at a price target of $270.
  • Wells Fargo has decided to maintain their Overweight rating on Stryker, which currently sits at a price target of $286.
  • Truist Securities downgraded its action to Hold with a price target of $296

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 {d[company_name]}, Benzinga Progives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets