DexCom's Options: A Look at What the Big Money is Thinking

Author: Benzinga Insights | March 20, 2024 02:45pm

Benzinga's options scanner has just identified more than 8 option transactions on DexCom (NASDAQ:DXCM), with a cumulative value of $548,553. Concurrently, our algorithms picked up 5 puts, worth a total of 372,044.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $97.5 to $131.0 for DexCom over the recent three months.

Volume & Open Interest Trends

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for DexCom'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 DexCom's whale trades within a strike price range from $97.5 to $131.0 in the last 30 days.

DexCom Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Strike Price	Total Trade Price	Open Interest	Volume
DXCM	PUT	TRADE	BULLISH	03/22/24	$131.00	$252.8K	56	1.0K
DXCM	CALL	SWEEP	BULLISH	04/19/24	$123.00	$129.9K	0	14
DXCM	CALL	SWEEP	BEARISH	01/16/26	$125.00	$53.4K	175	14
DXCM	CALL	TRADE	BULLISH	01/17/25	$130.00	$46.6K	269	20
DXCM	PUT	SWEEP	BULLISH	03/22/24	$131.00	$34.3K	56	0

About DexCom

Dexcom designs and commercializes continuous glucose monitoring systems for diabetic patients. CGM systems serve as an alternative to the traditional blood glucose meter process, and the company is evolving its CGM systems to provide integration with insulin pumps from Insulet and Tandem for automatic insulin delivery.

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

Where Is DexCom Standing Right Now?

• With a trading volume of 962,351, the price of DXCM is up by 0.4%, reaching $134.7.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 36 days from now.

What Analysts Are Saying About DexCom

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $165.0.

• In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $165.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for DexCom with Benzinga Pro for real-time alerts.

Posted In: DXCM