Altria Group Unusual Options Activity For April 03
Portfolio Pulse from Benzinga Insights
Altria Group (NYSE:MO) has seen unusual options activity, with over 9 transactions valued at $518,462, including 6 puts totaling $380,242. Investors target a price range of $35.0 to $47.5 for MO in the next three months. Notable options include bullish calls and puts with expiration dates ranging from 2024 to 2025. Altria, a leading tobacco company, holds a significant market share and interests in various sectors, including cannabis and brewing. The stock is slightly up at $42.99, with an RSI indicating a potential overbought situation. Analysts have a consensus target price of $50.0 for MO, with Stifel recently lowering its rating to Buy.
April 03, 2024 | 6:46 pm
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NEUTRAL IMPACT
Altria Group has seen significant options activity and analyst attention, with a slight increase in stock price and a potential overbought situation indicated by RSI. The consensus target price is $50.0, with Stifel lowering its rating to Buy.
The unusual options activity, combined with the analyst downgrade and the stock's current performance, suggests a neutral short-term impact. The broad range of target prices and the recent downgrade by Stifel could lead to mixed investor sentiment, balancing out potential gains from the bullish options activity.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100