Whales with a lot of money to spend have taken a noticeably bullish stance on Novo Nordisk.
Looking at options history for Novo Nordisk NVO we detected 27 trades.
If we consider the specifics of each trade, it is accurate to state that 51% of the investors opened trades with bullish expectations and 40% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $93,916 and 24, calls, for a total amount of $3,291,798.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $155.0 for Novo Nordisk over the last 3 months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Novo Nordisk's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Novo Nordisk's significant trades, within a strike price range of $100.0 to $155.0, over the past month.
Novo Nordisk Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVO | CALL | TRADE | BEARISH | 09/20/24 | $8.35 | $8.25 | $8.25 | $150.00 | $410.8K | 2.9K | 7.6K |
| NVO | CALL | SWEEP | BEARISH | 09/20/24 | $7.95 | $7.9 | $7.9 | $150.00 | $396.6K | 2.9K | 4.8K |
| NVO | CALL | TRADE | BULLISH | 09/20/24 | $7.8 | $7.55 | $7.75 | $150.00 | $368.1K | 2.9K | 3.8K |
| NVO | CALL | TRADE | BEARISH | 09/20/24 | $7.3 | $7.2 | $7.2 | $150.00 | $354.9K | 2.9K | 78 |
| NVO | CALL | TRADE | BEARISH | 09/20/24 | $8.15 | $8.1 | $8.1 | $150.00 | $313.4K | 2.9K | 6.7K |
About Novo Nordisk
With roughly one third of the global branded diabetes treatment market, Novo Nordisk is the leading provider of diabetes-care products in the world. Based in Denmark, the company manufactures and markets a variety of human and modern insulins, injectable diabetes treatments such as GLP-1 therapy, oral antidiabetic agents, and obesity treatments. Novo also has a biopharmaceutical segment (constituting roughly 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.
In light of the recent options history for Novo Nordisk, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Novo Nordisk Standing Right Now?
- With a trading volume of 3,464,967, the price of NVO is up by 2.31%, reaching $145.56.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 44 days from now.
Expert Opinions on Novo Nordisk
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $160.0.
- Consistent in their evaluation, an analyst from Argus Research keeps a Buy rating on Novo Nordisk with a target price of $160.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $160.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $160.
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 Novo Nordisk options trades with real-time alerts from Benzinga Pro.
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