Deep-pocketed investors have adopted a bearish approach towards AbbVie ABBV, 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 ABBV usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for AbbVie. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 70% bearish. Among these notable options, 4 are puts, totaling $164,887, and 6 are calls, amounting to $485,213.
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 $70.0 to $180.0 for AbbVie over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for AbbVie'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 AbbVie's whale trades within a strike price range from $70.0 to $180.0 in the last 30 days.
AbbVie Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ABBV | CALL | SWEEP | BEARISH | 01/17/25 | $27.9 | $24.95 | $24.95 | $145.00 | $249.1K | 10.4K | 0 |
| ABBV | CALL | SWEEP | NEUTRAL | 04/26/24 | $1.51 | $1.04 | $1.51 | $170.00 | $75.5K | 1.5K | 6 |
| ABBV | CALL | TRADE | BULLISH | 04/19/24 | $18.05 | $15.7 | $17.22 | $145.00 | $68.8K | 0 | 40 |
| ABBV | PUT | SWEEP | BEARISH | 04/19/24 | $13.75 | $12.35 | $13.75 | $175.00 | $55.0K | 4.3K | 15 |
| ABBV | PUT | SWEEP | BULLISH | 05/17/24 | $8.95 | $8.6 | $8.6 | $170.00 | $50.7K | 1.7K | 38 |
About AbbVie
AbbVie is a pharmaceutical firm with a strong exposure to immunology (with Humira, Skyrizi, and Rinvoq) and oncology (with Imbruvica and Venclexta). The company was spun off from Abbott in early 2013. The 2020 acquisition of Allergan added several new products and drugs in aesthetics (including Botox).
Where Is AbbVie Standing Right Now?
- Currently trading with a volume of 1,030,962, the ABBV's price is down by -1.54%, now at $163.42.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 14 days.
Professional Analyst Ratings for AbbVie
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $192.5.
- Consistent in their evaluation, an analyst from Guggenheim keeps a Buy rating on AbbVie with a target price of $190.
- An analyst from Barclays has decided to maintain their Overweight rating on AbbVie, which currently sits at a price target of $195.
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 AbbVie with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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