High-rolling investors have positioned themselves bearish on DexCom DXCM, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in DXCM often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for DexCom. This is not a typical pattern.
The sentiment among these major traders is split, with 37% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $85,690, and 7 calls, totaling $715,719.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $105.0 to $130.0 for DexCom during the past quarter.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for DexCom's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across DexCom's significant trades, within a strike price range of $105.0 to $130.0, over the past month.
DexCom Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DXCM | CALL | SWEEP | BULLISH | 06/21/24 | $125.00 | $321.1K | 335 | 302 |
| DXCM | PUT | SWEEP | BEARISH | 12/15/23 | $115.00 | $85.6K | 300 | 419 |
| DXCM | CALL | TRADE | NEUTRAL | 05/17/24 | $120.00 | $82.8K | 201 | 61 |
| DXCM | CALL | SWEEP | BEARISH | 05/17/24 | $130.00 | $80.3K | 1.9K | 98 |
| DXCM | CALL | TRADE | NEUTRAL | 12/15/23 | $105.00 | $74.7K | 1.8K | 75 |
About DexCom
Dexcom designs and commercializes continuous glucose monitoring systems for diabetic patients. CGM systems serve as an alternative to the traditional blood glucose meter process, and the company is evolving its CGM systems to provide integration with insulin pumps from Insulet and Tandem for automatic insulin delivery.
After a thorough review of the options trading surrounding DexCom, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is DexCom Standing Right Now?
- With a volume of 1,700,488, the price of DXCM is down -0.79% at $117.31.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 65 days.
Professional Analyst Ratings for DexCom
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $122.0.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for DexCom, targeting a price of $122.
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 DexCom, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
