Unusual Call Options Activity in MMM Stock Highlights Its Underlying Value

Today, a large tranche of 3M Company (MMM) call options traded at a deep in-the-money (ITM) strike price for an expiration date 5 months from now. That implies institutional investors are very bullish on MMM stock.

MMM stock is up today to $136.62 per share. I discussed 3M in an April 22 Barchart article, “3M Company Produces Good Q1 Earnings and Guidance - MMM Stock Looks Cheap.”