IBM Unusual Options Activity

Deep-pocketed investors have adopted a bullish approach towards IBM IBM, 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 IBM usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga’s options scanner highlighted 10 extraordinary options activities for IBM. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 80% leaning bullish and 20% bearish. Among these notable options, 3 are puts, totaling $164,063, and 7 are calls, amounting to $585,081.

What’s The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $195.0 to $290.0 for IBM during the past quarter.

Insights into Volume & Open Interest

In today’s trading context, the average open interest for options of IBM stands at 258.89, with a total volume reaching 699.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in IBM, situated within the strike price corridor from $195.0 to $290.0, throughout the last 30 days.

IBM Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About IBM

IBM looks to be a part of every aspect of an enterprise’s IT needs. The company primarily sells software, IT services, consulting, and hardware. IBM operates in 175 countries and employs approximately 300,000 people. The company has a robust roster of business partners to service its clients, which include 95% of all Fortune 500 companies. Primary products include its mainframes, Red Hat software, transaction processing software, and IT consulting.

Following our analysis of the options activities associated with IBM, we pivot to a closer look at the company’s own performance.

Where Is IBM Standing Right Now?

• With a trading volume of 1,237,892, the price of IBM is up by 0.57%, reaching $239.93.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 6 days from now.

What The Experts Say On IBM

2 market experts have recently issued ratings for this stock, with a consensus target price of $270.5.

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* An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $276.
* Maintaining their stance, an analyst from Jefferies continues to hold a Hold rating for IBM, targeting a price of $265.

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