Someone with a lot of money to spend has taken a bullish stance on Madrigal Pharmaceuticals MDGL.
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 MDGL, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 19 options trades for Madrigal Pharmaceuticals.
This isn't normal.
The overall sentiment of these big-money traders is split between 52% bullish and 47%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $232,000, and 18, calls, for a total amount of $937,219..
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 $350.0 for Madrigal Pharmaceuticals 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 Madrigal Pharmaceuticals'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 Madrigal Pharmaceuticals's whale activity within a strike price range from $65.0 to $350.0 in the last 30 days.
Madrigal Pharmaceuticals 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 |
|---|---|---|---|---|---|---|---|---|
| MDGL | PUT | SWEEP | NEUTRAL | 01/20/23 | $290.00 | $232.0K | 39 | 112 |
| MDGL | CALL | TRADE | BEARISH | 02/17/23 | $80.00 | $164.8K | 109 | 13 |
| MDGL | CALL | TRADE | BEARISH | 02/17/23 | $80.00 | $105.2K | 109 | 5 |
| MDGL | CALL | TRADE | BEARISH | 01/20/23 | $100.00 | $90.1K | 798 | 21 |
| MDGL | CALL | TRADE | NEUTRAL | 02/17/23 | $80.00 | $82.5K | 109 | 18 |
Where Is Madrigal Pharmaceuticals Standing Right Now?
- With a volume of 296,580, the price of MDGL is down -1.99% at $284.46.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 51 days.
What The Experts Say On Madrigal Pharmaceuticals:
- HC Wainwright & Co. has decided to maintain their Buy rating on Madrigal Pharmaceuticals, which currently sits at a price target of $225.
- Goldman Sachs has decided to maintain their Buy rating on Madrigal Pharmaceuticals, which currently sits at a price target of $375.
- JMP Securities has decided to maintain their Market Outperform rating on Madrigal Pharmaceuticals, which currently sits at a price target of $312.
- SVB Leerink has decided to maintain their Outperform rating on Madrigal Pharmaceuticals, which currently sits at a price target of $315.
- UBS has decided to maintain their Buy rating on Madrigal Pharmaceuticals, which currently sits at a price target of $337.
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 Madrigal Pharmaceuticals, 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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