Novo Nordisk Options Trading: A Deep Dive into Market Sentiment

Deep-pocketed investors have adopted a bullish approach towards Novo Nordisk NVO, 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 NVO usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for Novo Nordisk. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 41% leaning bullish and 41% bearish. Among these notable options, 3 are puts, totaling $153,000, and 14 are calls, amounting to $1,309,591.

Projected Price Targets

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 $155.0 for Novo Nordisk, spanning the last three months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Novo Nordisk'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 Novo Nordisk's whale activity within a strike price range from $120.0 to $155.0 in the last 30 days.

Novo Nordisk Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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.

Following our analysis of the options activities associated with Novo Nordisk, we pivot to a closer look at the company's own performance.

Current Position of Novo Nordisk

• Trading volume stands at 1,671,110, with NVO's price down by -0.69%, positioned at $143.49.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 41 days.

What Analysts Are Saying About Novo Nordisk

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $160.75.

• An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $160.
• Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for Novo Nordisk, targeting a price of $163.
• An analyst from Argus Research persists with their Buy rating on Novo Nordisk, maintaining a target price of $160.
• Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $160.

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 Novo Nordisk, Benzinga Pro gives you real-time options trades alerts.