Philip Morris Options Traders Bet Big With $2.5M in Bullish Call Flow Near 52-Week Highs
By TrendSpider Editor
PM market update based on latest unusual_options data.
Philip Morris Options Traders Bet Big With $2.5M in Bullish Call Flow Near 52-Week Highs
Two unusual call contracts totaling $2,495,500 in premium hit the tape for Philip Morris International Inc (PM) on Friday, with both targeting the $200 strike ahead of a March 2027 expiration. PM shares are currently trading at $200.18, down just 0.16% on the session, and sitting close to the top of their 52-week range of $142.11 to $207.75, suggesting the options activity is coming in with the stock already in a position of considerable strength.Key Drivers of the PM Stock Move
- Main Catalyst: Two notable call contracts were flagged at the $200 strike expiring March 19, 2027, with a combined size of 1,550 contracts and total premium of $2,495,500. Both contracts are currently in the money, with the first showing an open interest ratio of 82% and the second at 45%.
- Bull Case: The $200 strike calls are ITM with the stock at $200.18, and the March 2027 expiration gives traders over five months of runway. A combined $2,495,500 in premium deployed at current levels implies conviction that PM continues to hold or build on its proximity to the 52-week high of $207.75.
- Bear Case: PM is trading just 3.7% below its 52-week high of $207.75, meaning the stock has limited room to the upside before running into resistance territory. The 0.16% decline on the session, while minor, indicates some selling pressure at these elevated levels, and the $200 strike calls need the stock to stay above the strike just to remain in the money at expiration.
PM Unusual Options Activity
- Contract 1: Call, $200 strike, expiring March 19, 2027 | Volume: 1,000 | Open Interest Ratio: 82% | Status: In the Money | Premium: $1,610,000
- Contract 2: Call, $200 strike, expiring March 19, 2027 | Volume: 550 | Open Interest Ratio: 45% | Status: In the Money | Premium: $885,500
PM Seasonality
The fourth quarter has historically been a constructive period for consumer staples names like Philip Morris, as defensive positioning tends to increase heading into year-end. Options positioned for a March 2027 expiration would capture the early part of 2027, including a potential earnings catalyst in the first quarter.PM Relative Performance
PM's current price of $200.18 places it approximately 40.8% above its 52-week low of $142.11 and just 3.7% below its 52-week high of $207.75. This positioning in the upper tier of its annual range suggests PM has been a strong outperformer relative to broader defensive sector benchmarks over the past year, and the clustering of unusual options activity near this level reflects ongoing institutional interest at elevated prices.More on PM
- Philip Morris Options Traders Eye $200 Breakout with $1M in Unusual Contracts
- Philip Morris International Breaks to New 52-Week High, Topping $200 for the First Time
- Philip Morris Tops Q2 2026 Estimates on EPS and Revenue, But Stock Slips Despite the Beat
- Philip Morris Tops Q2 2026 Earnings Estimates by 7.32% But Shares Slip 1% Premarket
- Philip Morris International Inches Toward 52-Week High as Shares Trade at $192.83
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