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 8 extraordinary options activities for AbbVie. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 62% bearish. Among these notable options, 2 are puts, totaling $90,428, and 6 are calls, amounting to $250,885.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $135.0 and $165.0 for AbbVie, spanning the last three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of AbbVie stands at 243.17, with a total volume reaching 1,616.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in AbbVie, situated within the strike price corridor from $135.0 to $165.0, throughout the last 30 days.
AbbVie Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ABBV | CALL | SWEEP | BULLISH | 09/20/24 | $15.1 | $15.05 | $15.1 | $150.00 | $75.5K | 286 | 202 |
| ABBV | PUT | SWEEP | BEARISH | 11/15/24 | $3.5 | $3.4 | $3.5 | $145.00 | $52.1K | 496 | 32 |
| ABBV | CALL | SWEEP | NEUTRAL | 06/28/24 | $2.33 | $2.27 | $2.29 | $165.00 | $44.1K | 19 | 703 |
| ABBV | PUT | SWEEP | BEARISH | 11/15/24 | $4.45 | $4.3 | $4.45 | $150.00 | $38.2K | 208 | 86 |
| ABBV | CALL | TRADE | BEARISH | 11/15/24 | $7.45 | $7.3 | $7.35 | $165.00 | $36.7K | 335 | 54 |
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).
In light of the recent options history for AbbVie, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of AbbVie
- With a volume of 1,513,498, the price of ABBV is down -0.94% at $159.76.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 72 days.
What The Experts Say On AbbVie
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $183.5.
- Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on AbbVie with a target price of $180.
- Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on AbbVie with a target price of $187.
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 AbbVie, 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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