3M Options Trading: A Deep Dive into Market Sentiment
Portfolio Pulse from Benzinga Insights
Investors have taken a bearish stance on 3M (NYSE:MMM) through options trading, with 52% of large-scale traders showing bearish sentiment. The options activity suggests a price range of $125 to $140 for 3M. The stock is currently trading at $130.94, with a recent downgrade from Morgan Stanley to 'Underweight' and a price target of $125.
September 12, 2024 | 4:38 pm
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3M is experiencing bearish sentiment in options trading, with 52% of large-scale traders taking bearish positions. The stock is currently trading at $130.94, and Morgan Stanley has downgraded its rating to 'Underweight' with a price target of $125.
The bearish sentiment in options trading, with 52% of traders taking bearish positions, suggests a negative outlook for 3M. Additionally, Morgan Stanley's downgrade to 'Underweight' with a price target of $125 further supports a potential short-term decline in stock price.
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