Looking At 3M's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant investor has taken a bullish stance on 3M (NYSE:MMM), with unusual options activity detected. The trades are evenly split between bullish and bearish expectations. Whales have been targeting a price range from $65.0 to $130.0 for 3M over the last 3 months. The price of MMM is up 0.15% at $98.66, with RSI indicators suggesting the stock may be oversold. Morgan Stanley, Citigroup, and RBC Capital have maintained their Underweight, Neutral, and Underperform ratings on 3M, respectively.
August 23, 2023 | 4:16 pm
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Unusual options activity has been detected for 3M, with a significant investor taking a bullish stance. The stock price is up 0.15% at $98.66. Analysts have maintained their ratings on the stock.
The unusual options activity, combined with the bullish stance of a significant investor, could potentially drive the stock price up in the short term. However, the analyst ratings suggest a more cautious outlook.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100