Looking At 3M's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on 3M (NYSE:MMM) as evidenced by unusual options activity. The overall sentiment of these big-money traders is 100% bearish. The whales have been targeting a price range from $85.0 to $125.0 for 3M over the last 3 months. Currently, the price of MMM is down -1.13% at $103.37. Citigroup, Morgan Stanley, and RBC Capital have maintained their Neutral, Underweight, and Underperform ratings on 3M, respectively.
August 14, 2023 | 7:16 pm
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NEGATIVE IMPACT
Unusual options activity indicates a bearish stance on 3M. The price of MMM is currently down, and analysts have maintained their neutral to underperform ratings.
The unusual options activity, which is heavily bearish, indicates that traders expect the price of 3M to decrease. This is further supported by the current price decrease and the neutral to underperform ratings from analysts.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100