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High-rolling investors have positioned themselves bullish on 3M (NYSE:MMM), and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in MMM often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 14 options trades for 3M. This is not a typical pattern.
The sentiment among these major traders is split, with 42% bullish and 42% bearish. Among all the options we identified, there was one put, amounting to $47,170, and 13 calls, totaling $458,601.
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $70.0 to $115.0 for 3M over the recent three months.
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in 3M's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to 3M's substantial trades, within a strike price spectrum from $70.0 to $115.0 over the preceding 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MMM | CALL | TRADE | BEARISH | 01/16/26 | $38.9 | $37.0 | $37.0 | $70.00 | $74.0K | 5 | 21 |
| MMM | PUT | SWEEP | BEARISH | 11/15/24 | $1.8 | $1.74 | $1.78 | $90.00 | $47.1K | 2 | 10 |
| MMM | CALL | SWEEP | BULLISH | 09/20/24 | $4.15 | $4.0 | $4.15 | $105.00 | $41.5K | 3.6K | 11 |
| MMM | CALL | TRADE | BEARISH | 07/26/24 | $3.95 | $3.75 | $3.75 | $102.00 | $37.5K | 41 | 111 |
| MMM | CALL | TRADE | BULLISH | 11/15/24 | $15.3 | $14.15 | $15.15 | $90.00 | $36.3K | 5 | 0 |
3M is a multinational conglomerate that has operated since 1902, when it was known as Minnesota Mining and Manufacturing. The company is well known for its research and development laboratory and it leverages its science and technology across multiple product categories. As of the second quarter of 2024, 3M is organized across three business segments: safety and industrial, transportation and electronics, and consumer. Nearly 50% of the company's revenue comes from outside the Americas, with the safety and industrial segment constituting a plurality of net sales. Many of the company's tens of thousands of products touch and concern a variety of consumers and end markets.
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $121.0.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest 3M options trades with real-time alerts from Benzinga Pro.
Posted In: MMM
