IBM Unusual Options Activity For October 13
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been detected for IBM, with a bearish stance being taken by a majority of investors. Of the 10 strange trades detected, 70% were bearish and 30% bullish. The total amount for puts was $193,030 and for calls was $302,014. Whales have been targeting a price range from $130.0 to $150.0 for IBM over the last 3 months. The current price of IBM is down -1.59% at $139.0. RBC Capital has downgraded its action to Outperform with a price target of $188.
October 13, 2023 | 6:01 pm
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IBM has seen unusual options activity with a majority of investors taking a bearish stance. The current price is down -1.59% at $139.0. RBC Capital has downgraded its action to Outperform with a price target of $188.
The bearish stance taken by a majority of investors in the unusual options activity could potentially drive the price down in the short term. Additionally, the downgrade by RBC Capital could also impact the stock negatively. However, the price target of $188 indicates a potential upside in the longer term.
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