Smart Money Is Betting Big In RTX Options

Financial giants have made a conspicuous bearish move on RTX. Our analysis of options history for RTX (NYSE:RTX) revealed 12 unusual trades.

Delving into the details, we found 41% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $104,495, and 9 were calls, valued at $391,009.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $110.0 for RTX over the recent three months.

Insights into 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 $55.0 to $110.0 over the preceding 30 days.

RTX Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
RTX CALL SWEEP BULLISH 09/20/24 $2.88 $2.6 $2.68 $110.00 $101.5K 1.7K 390
RTX CALL SWEEP BULLISH 06/21/24 $1.85 $1.75 $1.85 $105.00 $59.6K 6.6K 601
RTX CALL TRADE BEARISH 06/21/24 $51.85 $49.85 $50.22 $55.00 $50.2K 32 25
RTX CALL SWEEP NEUTRAL 05/31/24 $0.78 $0.62 $0.63 $106.00 $38.9K 205 687
RTX PUT SWEEP BULLISH 05/24/24 $0.56 $0.55 $0.55 $104.00 $36.3K 133 783

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.

After a thorough review of the options trading surrounding RTX, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

RTX's Current Market Status Currently trading with a volume of 2,454,825, the RTX's price is down by -0.22%, now at $104.49. RSI readings suggest the stock is currently may be approaching overbought. Anticipated earnings release is in 68 days. What Analysts Are Saying About RTX

5 market experts have recently issued ratings for this stock, with a consensus target price of $108.8.

An analyst from UBS persists with their Neutral rating on RTX, maintaining a target price of $105. An analyst from B of A Securities has decided to maintain their Neutral rating on RTX, which currently sits at a price target of $110. Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on RTX with a target price of $110. Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for RTX, targeting a price of $100. An analyst from Susquehanna has decided to maintain their Positive rating on RTX, which currently sits at a price target of $119.

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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