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 $33,957, and 8, calls, for a total amount of $952,245.
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 $80.0 and $180.0 for AbbVie, spanning the last three months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in AbbVie's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to AbbVie's substantial trades, within a strike price spectrum from $80.0 to $180.0 over the preceding 30 days.
AbbVie Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ABBV | CALL | TRADE | BULLISH | 06/20/25 | $93.35 | $90.0 | $92.3 | $80.00 | $369.2K | 1 | 0 |
| ABBV | CALL | TRADE | BULLISH | 06/20/25 | $86.6 | $85.3 | $86.6 | $85.00 | $320.4K | 0 | 0 |
| ABBV | CALL | TRADE | BULLISH | 01/17/25 | $21.0 | $20.35 | $21.0 | $160.00 | $105.0K | 3.3K | 1 |
| ABBV | CALL | SWEEP | BEARISH | 10/18/24 | $7.75 | $7.6 | $7.6 | $175.00 | $38.0K | 165 | 14 |
| ABBV | CALL | TRADE | BULLISH | 09/20/24 | $18.0 | $17.55 | $18.0 | $160.00 | $36.0K | 1.6K | 1 |
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).
Having examined the options trading patterns of AbbVie, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
AbbVie's Current Market Status
- With a volume of 3,062,984, the price of ABBV is up 0.8% at $170.55.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 8 days.
What Analysts Are Saying About AbbVie
In the last month, 5 experts released ratings on this stock with an average target price of $195.2.
- An analyst from Piper Sandler persists with their Overweight rating on AbbVie, maintaining a target price of $190.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on AbbVie with a target price of $190.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on AbbVie with a target price of $196.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $200.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $200.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for AbbVie with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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