High-rolling investors have positioned themselves bullish on Novartis NVS, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in NVS often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Novartis. This is not a typical pattern.
The sentiment among these major traders is split, with 66% bullish and 33% bearish. Among all the options we identified, there was one put, amounting to $41,080, and 8 calls, totaling $1,464,990.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $92.5 to $97.5 for Novartis during the past quarter.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Novartis's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Novartis's whale activity within a strike price range from $92.5 to $97.5 in the last 30 days.
Novartis Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVS | CALL | TRADE | NEUTRAL | 05/17/24 | $1.55 | $1.15 | $1.35 | $97.50 | $1.0M | 1.0K | 10.0K |
| NVS | CALL | SWEEP | BULLISH | 05/17/24 | $1.15 | $1.1 | $1.15 | $97.50 | $100.9K | 1.0K | 766 |
| NVS | CALL | SWEEP | BULLISH | 05/17/24 | $1.5 | $1.3 | $1.3 | $97.50 | $63.0K | 1.0K | 1.8K |
| NVS | CALL | SWEEP | BULLISH | 07/19/24 | $4.3 | $4.2 | $4.3 | $95.00 | $60.6K | 145 | 0 |
| NVS | CALL | SWEEP | BULLISH | 05/17/24 | $1.2 | $1.15 | $1.2 | $97.50 | $58.0K | 1.0K | 885 |
About Novartis
Novartis develops and manufactures innovative drugs. The firm's key areas of drug development include oncology, rare diseases, neuroscience, immunology, respiratory, cardio-metabolic, and established medicines. The company sells its products globally, with the United States representing close to one third of total revenue.
In light of the recent options history for Novartis, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Novartis's Current Market Status
- With a volume of 398,132, the price of NVS is down -0.12% at $94.27.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 12 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Novartis, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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