Philip Morris Intl's Options Frenzy: What You Need to Know
Portfolio Pulse from Benzinga Insights
Philip Morris Intl (NYSE:PM) has seen significant options trading activity, with a bearish sentiment from high-rolling investors. Benzinga's options scanner detected 8 trades, with 37% bullish and 62% bearish sentiment. The trades suggest a target price range of $90 to $100 over the next three months. The company, known for its tobacco products, has diversified with acquisitions of Swedish Match and Vectura. PM's stock is currently at $95.42, with potential overbought conditions and earnings expected in 35 days.
January 04, 2024 | 5:01 pm
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Significant bearish options activity detected for Philip Morris Intl, with a price target range of $90 to $100. The stock is potentially overbought with an RSI reading suggesting caution. Earnings are anticipated in 35 days, which could influence stock volatility.
The bearish options activity indicates that investors are expecting a price decline, which could negatively impact the stock price in the short term. The overbought RSI readings may also suggest a potential pullback. However, the upcoming earnings release could add volatility and uncertainty to the stock's direction.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100