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 positions 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.
Today, Benzinga's options scanner spotted 9 options trades for AbbVie.
This isn't normal.
The overall sentiment of these big-money traders is split between 55% bullish and 44%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $41,100, and 8, calls, for a total amount of $335,370.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $120.0 and $270.0 for AbbVie, spanning the last three months.
Analyzing Volume & Open Interest
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 $120.0 to $270.0 in the last 30 days.
AbbVie Option Activity Analysis: Last 30 Days
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 | BULLISH | 06/21/24 | $8.2 | $7.9 | $8.17 | $162.50 | $66.2K | 595 | 35 |
| ABBV | CALL | TRADE | BULLISH | 07/19/24 | $7.05 | $6.9 | $7.0 | $165.00 | $56.7K | 1.8K | 311 |
| ABBV | CALL | TRADE | BULLISH | 01/16/26 | $1.23 | $0.9 | $1.1 | $270.00 | $51.4K | 95 | 0 |
| ABBV | CALL | SWEEP | BEARISH | 06/21/24 | $28.25 | $26.7 | $26.7 | $145.00 | $42.7K | 2.0K | 0 |
| ABBV | PUT | TRADE | BEARISH | 07/19/24 | $6.85 | $6.75 | $6.85 | $175.00 | $41.1K | 39 | 45 |
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.
Present Market Standing of AbbVie
- Trading volume stands at 3,822,503, with ABBV's price down by -0.78%, positioned at $170.78.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 34 days.
What Analysts Are Saying About AbbVie
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $191.66666666666666.
- An analyst from HSBC has elevated its stance to Buy, setting a new price target at $185.
- An analyst from Piper Sandler persists with their Overweight rating on AbbVie, maintaining a target price of $190.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $200.
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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