Examining Recent Options Trends for Exact Sciences Stock

Recent Options Activity for Exact Sciences Corporation

Investors have recently exhibited a bullish attitude towards Exact Sciences (NASDAQ: EXAS). This increased activity is essential for retail traders to understand, as significant movements in stock options often indicate underlying shifts in market sentiment.

Monitoring the unfolding trends, our observation pointed to a surge in large trades that were visible in public options history today. We acknowledge that these trades might be attributed to institutional investors or individual traders with substantial capital. However, the sheer scale of the trading activity often signals that someone anticipates a significant change on the horizon for Exact Sciences.

Earlier today, the options scanner detected a total of nine different trades focusing on Exact Sciences. This volume is notably abnormal and merits interest.

Analyzing Market Sentiment

Looking closely at the activity, we noted that the trading sentiment among these large investors is somewhat divided, with approximately 44% taking a bullish position while 33% leaned bearish. Among the trades we investigated, there was a lone put option, amounting to $117,000, contrasted with eight calls totaling around $372,081.

Projected Price Movements for Exact Sciences

Based on our analysis of the volume and open interest associated with these options, it appears large stakeholders are forecasting potential price trajectories for Exact Sciences falling within the range of $55.0 to $85.0. This observation aligns with the activity registered over the past quarter.

Trade Volume and Open Interest Insights

Today’s trading landscape revealed that the average open interest for Exact Sciences options is around 1016.57, complemented by a total volume of 2,211.00. This data allows us to track which direction the market sentiment might shift towards in the near future.

Understanding Recent Options Trades

To delve further into the specifics of the trades, here's a summary of the significant options activity observed within the last month:

• Symbol: EXAS
• PUT/CALL: PUT
• Trade Type: TRADE
• Sentiment: BULLISH
• Expiration Date: 11/15/24
• Price: $4.3
• Total Trade Price: $117,000
• Volume: 300
• Open Interest: 10

• Symbol: EXAS
• PUT/CALL: CALL
• Trade Type: SWEEP
• Sentiment: BEARISH
• Expiration Date: 09/20/24
• Price: $3.0
• Total Trade Price: $59,000
• Volume: 1.1K
• Open Interest: 4.1K

All About Exact Sciences

Exact Sciences is a prominent player in the healthcare sector, specializing in innovative cancer screening and diagnostic testing solutions. The company's flagship product, Cologuard, serves as a noninvasive stool-based DNA test aimed at colorectal cancer screening. Additionally, Exact Sciences is active in precision oncology with Oncotype DX, delivering genomic tests that project cancer recurrence risks for breast and colon cancer, alongside OncoExTra, a liquid biopsy assessment for comprehensive genomic profiling.

Current Market Status of Exact Sciences

• Recent trading volumes for Exact Sciences have reached approximately 3,695,220 shares, with the stock price rising by 1.8%, landing at $66.72.
• The Relative Strength Index (RSI) suggests that EXAS may be nearing an overbought condition.
• Investors should note that the next earnings report is on the horizon, scheduled in about 44 days.

Analyst Opinions on Exact Sciences

Within the previous month, three analysts provided their insights regarding EXAS, establishing an average target price of about $78.33. Here’s a quick overview of their ratings:

• A Wells Fargo analyst downgraded their stance to Overweight with a target of $75.
• Canaccord Genuity has maintained a Buy rating, also targeting $75.
• Piper Sandler has sustained an Overweight rating, setting their target at $85.

Investing in options carries inherent risks compared to direct stock trading, but they also offer prospects for higher returns. Savvy options traders mitigate risks through daily education, strategically entering and exiting positions, and adhering to various market indicators.

Frequently Asked Questions

What is Exact Sciences Corporation known for?

Exact Sciences specializes in cancer screening and diagnostic tests, including the well-known Cologuard test for colorectal cancer screening.

What does recent options activity indicate about Exact Sciences?

Increased options activity often signifies potential market movement or anticipations, suggesting traders have insights into future developments for the company.

What was the recent stock trading volume for EXAS?

The recent trading volume for Exact Sciences was approximately 3,695,220 shares, indicating active trading and interest in the stock.

Who are the key analysts covering Exact Sciences?

The analysts from firms such as Wells Fargo, Canaccord Genuity, and Piper Sandler are among those providing insights and ratings for Exact Sciences.

Where can I find real-time options updates for Exact Sciences?

Real-time updates on options trades for Exact Sciences can be accessed through financial news services, trading platforms, and relevant market analysis tools.

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