A whale with a lot of money to spend has taken a noticeably bearish stance on Mirati Therapeutics.
Looking at options history for Mirati Therapeutics MRTX we detected 12 strange trades.
If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $423,361 and 2, calls, for a total amount of $86,170.
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 $35.0 to $85.0 for Mirati Therapeutics over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Mirati Therapeutics options trades today is 2250.4 with a total volume of 3,607.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Mirati Therapeutics's big money trades within a strike price range of $35.0 to $85.0 over the last 30 days.
Mirati Therapeutics 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 |
|---|---|---|---|---|---|---|---|---|
| MRTX | PUT | SWEEP | NEUTRAL | 12/16/22 | $50.00 | $128.6K | 10.9K | 1.0K |
| MRTX | CALL | SWEEP | NEUTRAL | 01/19/24 | $85.00 | $52.5K | 6 | 29 |
| MRTX | PUT | TRADE | BEARISH | 12/16/22 | $85.00 | $41.0K | 204 | 132 |
| MRTX | PUT | TRADE | BEARISH | 12/16/22 | $50.00 | $36.5K | 10.9K | 740 |
| MRTX | PUT | TRADE | BEARISH | 12/16/22 | $50.00 | $36.5K | 10.9K | 640 |
Where Is Mirati Therapeutics Standing Right Now?
- With a volume of 2,007,486, the price of MRTX is down -10.95% at $44.16.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 81 days.
What The Experts Say On Mirati Therapeutics:
- JP Morgan downgraded its action to Neutral with a price target of $65
- BMO Capital downgraded its action to Market Perform with a price target of $59
- SVB Leerink has decided to maintain their Outperform rating on Mirati Therapeutics, which currently sits at a price target of $102.
- Oppenheimer has decided to maintain their Perform rating on Mirati Therapeutics, which currently sits at a price target of $60.
- SVB Leerink has decided to maintain their Outperform rating on Mirati Therapeutics, which currently sits at a price target of $85.
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 Mirati Therapeutics, 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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