Whales with a lot of money to spend have taken a noticeably bearish stance on Novo Nordisk.
Looking at options history for Novo Nordisk NVO we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $888,225 and 10, calls, for a total amount of $443,290.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $75.0 to $155.0 for Novo Nordisk over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Novo Nordisk stands at 1377.64, with a total volume reaching 1,256.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Novo Nordisk, situated within the strike price corridor from $75.0 to $155.0, throughout the last 30 days.
Novo Nordisk Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVO | PUT | TRADE | BULLISH | 09/20/24 | $7.3 | $7.05 | $7.05 | $120.00 | $634.5K | 638 | 901 |
| NVO | PUT | TRADE | BULLISH | 07/19/24 | $30.1 | $29.85 | $29.85 | $155.00 | $253.7K | 96 | 0 |
| NVO | CALL | SWEEP | BEARISH | 01/17/25 | $33.3 | $32.8 | $32.8 | $100.00 | $114.8K | 1.6K | 40 |
| NVO | CALL | TRADE | BULLISH | 01/17/25 | $54.35 | $53.95 | $54.35 | $75.00 | $54.3K | 281 | 0 |
| NVO | CALL | TRADE | BEARISH | 01/17/25 | $33.2 | $32.9 | $32.9 | $100.00 | $49.3K | 1.6K | 40 |
About Novo Nordisk
With roughly one third of the global branded diabetes treatment market, Novo Nordisk is the leading provider of diabetes-care products in the world. Based in Denmark, the company manufactures and markets a variety of human and modern insulins, injectable diabetes treatments such as GLP-1 therapy, oral antidiabetic agents, and obesity treatments. Novo also has a biopharmaceutical segment (constituting roughly 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.
In light of the recent options history for Novo Nordisk, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Novo Nordisk
- With a volume of 1,915,659, the price of NVO is down -1.98% at $125.03.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 30 days.
Expert Opinions on Novo Nordisk
In the last month, 3 experts released ratings on this stock with an average target price of $160.0.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $160.
- Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Overweight rating on Novo Nordisk with a target price of $160.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $160.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Novo Nordisk with Benzinga Pro for real-time alerts.
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