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Investors with significant funds have taken a bearish position in Comerica (NYSE:CMA), a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in CMA usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 19 options transactions for Comerica. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 31% being bullish and 68% bearish. Of all the options we discovered, 18 are puts, valued at $851,524, and there was a single call, worth $39,910.
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $55.0 for Comerica over the recent three months.
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Comerica's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Comerica's whale activity within a strike price range from $50.0 to $55.0 in the last 30 days.
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
---|---|---|---|---|---|---|---|---|---|---|---|
CMA | PUT | SWEEP | BULLISH | 10/18/24 | $3.2 | $2.8 | $2.85 | $50.00 | $125.4K | 122 | 1.3K |
CMA | PUT | SWEEP | BEARISH | 10/18/24 | $2.95 | $2.8 | $2.95 | $50.00 | $63.7K | 122 | 0 |
CMA | PUT | SWEEP | BEARISH | 10/18/24 | $2.95 | $2.95 | $2.95 | $50.00 | $60.7K | 122 | 0 |
CMA | PUT | SWEEP | BEARISH | 10/18/24 | $2.85 | $2.8 | $2.85 | $50.00 | $48.4K | 122 | 1.3K |
CMA | PUT | SWEEP | BEARISH | 10/18/24 | $2.85 | $2.8 | $2.85 | $50.00 | $48.1K | 122 | 1.3K |
Comerica is a financial services company headquartered in Dallas. It is primarily focused on relationship-based commercial banking. In addition to Texas, Comerica's other primary geographies are California and Michigan, with locations also in Arizona and Florida and select businesses operating in several other states as well as Canada and Mexico.
Having examined the options trading patterns of Comerica, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $59.0.
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 Comerica, Benzinga Pro gives you real-time options trades alerts.
Posted In: CMA