Philip Morris Intl Unusual Options Activity For March 12
Portfolio Pulse from Benzinga Insights
Recent options activity for Philip Morris Intl (NYSE:PM) shows a bearish sentiment among investors, with 77% of trades being bearish. The trades range from $60.0 to $110.0 strike prices, indicating expected price movements within this range over the next three months. The company, known for its tobacco products and recent diversifications, is currently trading at $94.67, with a potential overbought status as indicated by RSI readings. Its next earnings release is anticipated in 42 days.
March 12, 2024 | 8:15 pm
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Bearish options activity and expected price movements between $60-$110 suggest investor caution. Current trading at $94.67 with potential overbought status could impact short-term stock performance.
The bearish sentiment among investors, as evidenced by the options activity, combined with the current trading price and potential overbought status, suggests that PM's stock price may face downward pressure in the short term. The anticipation of the earnings release in 42 days adds to the uncertainty and potential volatility.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100