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CMI

BULL

2026-06-03

Overnight Institutional Flow Signal

See the 2026-06-03 Morning Briefing

Score

7/10

Move

4.5%

Flow

$145.7M

AI Trade Thesis

CMI BULL $840C Jul 17 '26. This bullish flow aligns with today's dominant scan direction and sits inside the most-concentrated 'Other' (Industrials) sector cluster, capitalizing on CMI's AI data center expansion and Argus's price target increase to $770. Entry near $672.67 with a target of $750. Risk: Overvaluation concerns and potential legal setbacks from outstanding trade secret litigation.

Flow Breakdown

Call Volume

$143.9M

Put Volume

$1.8M

Flow Intent

DIRECTIONAL

Catalyst

Analyst Upgrade

More Bullish Flow · 2026-06-03

TEAM8/10 MSBI8/10 FSLR8/10 ZIM7/10 WOLF7/10 WDAY7/10

Recommended Setup

ContractO:CMI260717C00840000

Contract Score6.013/10

Risk/Reward1.0:1

Delta0.05

Key Levels

Resistance$718.08

Support$628.09

Price$672.67

SMA 50 / 200$631 / $526

52W Range$262 — $718

News & Catalyst Analysis

Key Headline

Cummins (NYSE:CMI) Given New $770.00 Price Target at Argus

News Summary

Cummins' recent 4.5% gain to $672.67 is primarily driven by Argus Research raising its price target on the stock to $770 and maintaining a Buy rating, alongside growing market appreciation for the company's raised 2030 revenue targets of $45B-$50B. This bullishness is further reinforced by the launch of a new 4-megawatt natural gas engine designed to capitalize on the massive AI data center infrastructure cycle. Despite some legal overhangs, the massive $143M options flow indicates institutional players are actively positioning for a continued upward re-rating.

Flow Intent Analysis

The massive $143.8M flow is highly directional, targeting an aggressive, far out-of-the-money $840 strike expiring in just six weeks, which represents a high-conviction speculative bet on accelerating near-term momentum.

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How We Read This Flow

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CMI

Key Headline

News Summary

Flow Intent Analysis

One email a week. Catch up in five minutes.

How We Read This Flow

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