This Is What Whales Are Betting On Altria Group

This Is What Whales Are Betting On Altria Group

Someone with a lot of money to spend has taken a bullish stance on Altria Group MO.

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 MO, it often means somebody knows something is about to happen.

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

This isn't normal.

The overall sentiment of these big-money traders is split between 90% bullish and 10%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $25,200, and 9, calls, for a total amount of $315,760..

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 $42.5 to $50.0 for Altria Group over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Altria Group options trades today is 2843.33 with a total volume of 6,007.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Altria Group's big money trades within a strike price range of $42.5 to $50.0 over the last 30 days.

Altria Group 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
MO CALL TRADE BULLISH 01/19/24 $42.50 $49.0K 1.2K 26
MO CALL SWEEP BULLISH 03/17/23 $42.50 $37.8K 190 862
MO CALL SWEEP BULLISH 03/17/23 $42.50 $37.0K 190 429
MO CALL SWEEP BULLISH 03/17/23 $42.50 $35.4K 190 1.1K
MO CALL SWEEP BULLISH 03/17/23 $42.50 $35.1K 190 596

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
MO CALL TRADE BULLISH 01/19/24 $42.50 $49.0K 1.2K 26
MO CALL SWEEP BULLISH 03/17/23 $42.50 $37.8K 190 862
MO CALL SWEEP BULLISH 03/17/23 $42.50 $37.0K 190 429
MO CALL SWEEP BULLISH 03/17/23 $42.50 $35.4K 190 1.1K
MO CALL SWEEP BULLISH 03/17/23 $42.50 $35.1K 190 596

Where Is Altria Group Standing Right Now?

  • With a volume of 2,138,414, the price of MO is up 1.11% at $43.57.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 3 days.

What The Experts Say On Altria Group:

  • Deutsche Bank has decided to maintain their Buy rating on Altria Group, which currently sits at a price target of $46.
  • B of A Securities has decided to maintain their Neutral rating on Altria Group, which currently sits at a price target of $45.
  • Cowen & Co. has decided to maintain their Market Perform rating on Altria Group, which currently sits at a price target of $45.
  • Jefferies has decided to maintain their Buy rating on Altria Group, which currently sits at a price target of $54.
  • Barclays downgraded its action to Underweight with a price target of $36

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 Altria Group, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets