Deep-pocketed investors have adopted a bullish approach towards Amgen AMGN, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AMGN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 64 extraordinary options activities for Amgen. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 71% leaning bullish and 28% bearish. Among these notable options, 12 are puts, totaling $871,547, and 52 are calls, amounting to $2,483,250.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $250.0 and $360.0 for Amgen, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Amgen stands at 528.67, with a total volume reaching 12,008.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Amgen, situated within the strike price corridor from $250.0 to $360.0, throughout the last 30 days.
Amgen Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AMGN | PUT | SWEEP | BULLISH | 08/16/24 | $330.00 | $222.0K | 0 | 119 |
| AMGN | CALL | SWEEP | BULLISH | 08/16/24 | $250.00 | $137.0K | 0 | 175 |
| AMGN | PUT | SWEEP | BEARISH | 08/16/24 | $330.00 | $113.5K | 0 | 276 |
| AMGN | CALL | SWEEP | BULLISH | 02/02/24 | $307.50 | $97.9K | 1.1K | 149 |
| AMGN | PUT | SWEEP | BEARISH | 08/16/24 | $330.00 | $84.5K | 0 | 364 |
About Amgen
Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). The 2023 Horizon acquisition brings several rare disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.
Where Is Amgen Standing Right Now?
- Currently trading with a volume of 1,362,717, the AMGN's price is down by -0.35%, now at $312.36.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 7 days.
What Analysts Are Saying About Amgen
1 market experts have recently issued ratings for this stock, with a consensus target price of $314.0.
- Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Amgen, targeting a price of $314.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Amgen options trades with real-time alerts from Benzinga Pro.
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