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Behind the Scenes of RTX's Latest Options Trends

Author: Benzinga Insights | June 07, 2024 03:31pm

Deep-pocketed investors have adopted a bullish approach towards RTX (NYSE:RTX), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in RTX usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for RTX. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 70% leaning bullish and 10% bearish. Among these notable options, 2 are puts, totaling $133,314, and 8 are calls, amounting to $301,840.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $80.0 to $120.0 for RTX over the last 3 months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in RTX's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to RTX's substantial trades, within a strike price spectrum from $80.0 to $120.0 over the preceding 30 days.

RTX Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
RTX PUT SWEEP BULLISH 01/17/25 $6.6 $6.2 $6.2 $110.00 $89.9K 753 281
RTX CALL TRADE BULLISH 01/17/25 $13.05 $12.85 $13.03 $100.00 $58.6K 3.8K 6
RTX CALL SWEEP BULLISH 08/16/24 $1.24 $1.24 $1.24 $115.00 $46.5K 2.1K 462
RTX CALL TRADE BULLISH 07/19/24 $4.55 $4.4 $4.55 $105.00 $45.5K 9.9K 100
RTX PUT TRADE NEUTRAL 01/17/25 $6.25 $6.15 $6.2 $110.00 $43.4K 753 136

About RTX

RTX is a diversified aerospace and defense industrial company formed from the merger of United Technologies and Raytheon, with roughly equal exposure as a supplier to commercial aerospace manufacturers and to the defense market. The company operates in three segments: Collins Aerospace, a diversified aerospace supplier; Pratt & Whitney, an aircraft engine manufacturer; and Raytheon, a defense prime contractor providing a mix of missiles, missile defense systems, sensors, hardware, and communications technology to the military.

Having examined the options trading patterns of RTX, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of RTX

  • With a volume of 2,291,642, the price of RTX is down -0.29% at $107.87.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 46 days.

What Analysts Are Saying About RTX

In the last month, 1 experts released ratings on this stock with an average target price of $141.0.

  • Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on RTX with a target price of $141.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for RTX, Benzinga Pro gives you real-time options trades alerts.

Posted In: RTX