Looking At IBM's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance on IBM (NYSE:IBM) has been observed in recent unusual options activity. The sentiment among big-money traders is split between 36% bullish and 63% bearish. Whales have been targeting a price range from $120.0 to $160.0 for IBM over the last 3 months. RBC Capital has downgraded its action to Outperform with a price target of $188. IBM's stock price is currently down -0.18% at $140.55.
October 03, 2023 | 6:01 pm
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IBM has seen unusual options activity with a significant bearish stance. The sentiment among big-money traders is more bearish than bullish. RBC Capital has downgraded IBM to Outperform with a price target of $188.
The bearish stance in the options market indicates that traders are expecting IBM's stock price to decrease. This, combined with the downgrade from RBC Capital, could put downward pressure on the stock price in the short term.
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