In early trading on April 12 there was unusual activity with Medtronic (MDT) puts options, as seen in the Barchart Unusual Stock Options Activity Report. This indicates that a large investor had likely shorted near-term out-of-the-money (OTM) puts in an income-producing play. This implies a very clear bullish outlook for MDT stock, as the puts expire in a little over 2 months.
The Barchart Report shows that over 10,000 put options were traded at the $72.50 strike price expiring on June 16. That means the expiration period is just 65 days to expiration. The put options traded at 83 cents at the midpoint, which means that the trade was likely initiated by an investor who has likely shorted the puts.
