Smart Money Is Betting Big In MCK Options

Deep-pocketed investors have adopted a bearish approach towards McKesson MCK, and it’s something market players shouldn’t ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in MCK usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga’s options scanner highlighted 20 extraordinary options activities for McKesson. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 40% leaning bullish and 50% bearish. Among these notable options, 11 are puts, totaling $740,923, and 9 are calls, amounting to $870,830.

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 $540.0 to $720.0 for McKesson during the past quarter.

Analyzing Volume & Open Interest

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 McKesson’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 McKesson’s whale activity within a strike price range from $540.0 to $720.0 in the last 30 days.

McKesson 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About McKesson

McKesson Corp is one of three leading pharmaceutical wholesalers in the us engaged in sourcing and distributing branded, generic, and specialty pharmaceutical products to pharmacies (retail chains, independent, and mail order), hospitals networks, and healthcare providers. Along with Cencora and Cardinal Health, the three account for over 90% of the us pharmaceutical wholesale industry. Outside the us market, McKesson engages in pharmaceutical wholesale and distribution in Canada. Additionally, the company supplies medical-surgical products and equipment to healthcare facilities and provides a variety of technology solutions for pharmacies.

In light of the recent options history for McKesson, it’s now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of McKesson

• With a trading volume of 370,744, the price of MCK is up by 0.01%, reaching $673.05.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 35 days from now.

Expert Opinions on McKesson

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $691.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge’s Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
* An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on McKesson, which currently sits at a price target of $691.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest McKesson options trades with real-time alerts from Benzinga Pro.