Deep-pocketed investors have adopted a bearish 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 8 extraordinary options activities for RTX. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 12% leaning bullish and 87% bearish. Among these notable options, 2 are puts, totaling $352,938, and 6 are calls, amounting to $390,900.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $80.0 and $120.0 for RTX, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of RTX stands at 4021.43, with a total volume reaching 14,015.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in RTX, situated within the strike price corridor from $80.0 to $120.0, throughout the last 30 days.
RTX 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RTX | PUT | TRADE | BEARISH | 08/16/24 | $0.99 | $0.94 | $0.98 | $100.00 | $294.0K | 13.2K | 3.0K |
| RTX | CALL | TRADE | BEARISH | 08/16/24 | $0.32 | $0.26 | $0.27 | $115.00 | $207.9K | 5.8K | 9.2K |
| RTX | PUT | SWEEP | BEARISH | 11/15/24 | $2.82 | $2.8 | $2.82 | $100.00 | $58.9K | 1.4K | 1 |
| RTX | CALL | SWEEP | BEARISH | 08/16/24 | $0.35 | $0.28 | $0.28 | $115.00 | $42.0K | 5.8K | 1.5K |
| RTX | CALL | SWEEP | BEARISH | 09/20/24 | $3.95 | $3.9 | $3.9 | $105.00 | $41.7K | 6.4K | 171 |
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
Current Position of RTX
- With a volume of 1,859,884, the price of RTX is up 1.35% at $105.17.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 2 days.
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 RTX options trades with real-time alerts from Benzinga Pro.