Investors with a lot of money to spend have taken a bullish stance on AbbVie ABBV.
And retail traders should know.
We noticed this today when the trades 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 ABBV, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 10 uncommon options trades for AbbVie.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 40%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $170,570, and 8 are calls, for a total amount of $1,048,300.
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 $135.0 to $165.0 for AbbVie over the last 3 months.
Volume & Open Interest Trends
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 $135.0 to $165.0 in the last 30 days.
AbbVie 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ABBV | CALL | SWEEP | BEARISH | 08/16/24 | $7.85 | $7.3 | $7.3 | $160.00 | $292.0K | 509 | 800 |
| ABBV | CALL | SWEEP | BULLISH | 09/20/24 | $16.1 | $15.65 | $16.1 | $150.00 | $241.5K | 1.0K | 433 |
| ABBV | CALL | TRADE | BULLISH | 09/20/24 | $16.0 | $15.4 | $16.0 | $150.00 | $235.2K | 1.0K | 283 |
| ABBV | PUT | TRADE | BEARISH | 01/16/26 | $7.05 | $6.8 | $7.05 | $135.00 | $131.8K | 208 | 187 |
| ABBV | CALL | TRADE | NEUTRAL | 09/20/24 | $14.3 | $13.85 | $14.09 | $150.00 | $70.4K | 1.0K | 483 |
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).
After a thorough review of the options trading surrounding AbbVie, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is AbbVie Standing Right Now?
- With a volume of 2,539,259, the price of ABBV is down -0.32% at $160.72.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 52 days.
Professional Analyst Ratings for AbbVie
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $200.0.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $200.
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 AbbVie options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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