Investors with a lot of money to spend have taken a bearish stance on Abbott Laboratories ABT.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ABT, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Abbott Laboratories.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $27,225, and 7, calls, for a total amount of $335,217.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $113.0 to $125.0 for Abbott Laboratories over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Abbott Laboratories options trades today is 3567.29 with a total volume of 822.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Abbott Laboratories's big money trades within a strike price range of $113.0 to $125.0 over the last 30 days.
Abbott Laboratories Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ABT | CALL | SWEEP | NEUTRAL | 03/15/24 | $115.00 | $100.9K | 4.8K | 230 |
| ABT | CALL | SWEEP | BEARISH | 03/01/24 | $113.00 | $59.8K | 427 | 145 |
| ABT | CALL | TRADE | NEUTRAL | 01/17/25 | $115.00 | $43.2K | 2.3K | 31 |
| ABT | CALL | SWEEP | BEARISH | 03/01/24 | $113.00 | $35.7K | 427 | 7 |
| ABT | CALL | SWEEP | BULLISH | 08/16/24 | $120.00 | $35.5K | 493 | 0 |
About Abbott Laboratories
Abbott manufactures and markets cardiovascular and diabetes devices, adult and pediatric nutritional products, diagnostic equipment and testing kits, and branded generic drugs. Products include pacemakers, implantable cardioverter defibrillators, neuromodulation devices, coronary stents, catheters, infant formula, nutritional liquids for adults, continuous glucose monitors, and immunoassays and point-of-care diagnostic equipment. Abbott derives approximately 60% of sales outside the United States.
After a thorough review of the options trading surrounding Abbott Laboratories, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Abbott Laboratories
- Trading volume stands at 1,719,998, with ABT's price up by 0.4%, positioned at $119.5.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 54 days.
Professional Analyst Ratings for Abbott Laboratories
In the last month, 5 experts released ratings on this stock with an average target price of $130.0.
- An analyst from Raymond James has decided to maintain their Outperform rating on Abbott Laboratories, which currently sits at a price target of $127.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Abbott Laboratories, targeting a price of $126.
- Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Abbott Laboratories with a target price of $141.
- An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $128.
- An analyst from RBC Capital downgraded its action to Outperform with a price target of $128.
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 Abbott Laboratories options trades with real-time alerts from Benzinga Pro.
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