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. Benzinga's options scanner spotted 16 uncommon options trades for 3M, with 14 being puts and 2 being calls. The overall sentiment of these big-money traders is 31% bullish and 68% bearish. Whales have been targeting a price range from $90.0 to $100.0 for 3M over the last 3 months.
September 22, 2023 | 2:31 pm
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NEGATIVE IMPACT
Unusual options activity indicates a significant bearish sentiment towards 3M. This could potentially impact the stock's price in the short term.
The unusual options activity, particularly the high number of puts, indicates that big-money traders are expecting the price of 3M to decrease. This bearish sentiment could potentially lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100