Looking At 3M's Recent Whale Trades

Looking At 3M's Recent Whale Trades

A whale with a lot of money to spend has taken a noticeably bullish stance on 3M.

Looking at options history for 3M MMM we detected 102 strange trades.

If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 33% with bearish.

From the overall spotted trades, 15 are puts, for a total amount of $58,850,175 and 87, calls, for a total amount of $4,605,905.

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 $65.0 to $270.0 for 3M over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for 3M's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of 3M's whale activity within a strike price range from $65.0 to $270.0 in the last 30 days.

3M 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
MMM PUT TRADE BEARISH 01/19/24 $270.00 $147.6K 1 33
MMM PUT TRADE BULLISH 01/19/24 $270.00 $147.6K 1 23
MMM PUT TRADE BEARISH 01/19/24 $270.00 $147.5K 1 89
MMM PUT TRADE BEARISH 01/19/24 $270.00 $147.5K 1 53
MMM PUT TRADE BULLISH 01/19/24 $270.00 $147.5K 1 79

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
MMM PUT TRADE BEARISH 01/19/24 $270.00 $147.6K 1 33
MMM PUT TRADE BULLISH 01/19/24 $270.00 $147.6K 1 23
MMM PUT TRADE BEARISH 01/19/24 $270.00 $147.5K 1 89
MMM PUT TRADE BEARISH 01/19/24 $270.00 $147.5K 1 53
MMM PUT TRADE BULLISH 01/19/24 $270.00 $147.5K 1 79

Where Is 3M Standing Right Now?

  • With a volume of 6,305,466, the price of MMM is up 2.52% at $122.27.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 46 days.

What The Experts Say On 3M:

  • Wells Fargo has decided to maintain their Equal-Weight rating on 3M, which currently sits at a price target of $125.
  • UBS upgraded its action to Neutral with a price target of $126
  • Deutsche Bank has decided to maintain their Hold rating on 3M, which currently sits at a price target of $127.

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 3M, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets