What the Options Market Tells Us About RTX
Portfolio Pulse from Benzinga Insights
Options market activity for RTX (NYSE:RTX) shows a bearish sentiment among investors, with 68% of trades being bearish. The trading activity suggests an expected price range of $70.0 to $120.0 for RTX in the next three months. RTX, a major aerospace and defense company, is currently trading at $91.6, up 1.15%, with an RSI indicating it may be approaching overbought territory. An analyst from Wells Fargo has upgraded RTX to Overweight with a price target of $120.
March 14, 2024 | 4:45 pm
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Bearish options trading activity observed, with a significant price range expectation of $70-$120. RTX's stock is currently up, trading at $91.6. Analyst upgrade to Overweight with a $120 target price.
The bearish sentiment in the options market, combined with the current positive trading performance and an analyst upgrade, suggests a complex but overall positive short-term outlook for RTX. The significant trading activity and the analyst's bullish stance could drive investor interest and potentially increase the stock price, despite the bearish options sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100