Investors with a lot of money to spend have taken a bullish stance on Johnson & Johnson JNJ.
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 JNJ, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 14 options trades for Johnson & Johnson.
This isn't normal.
The overall sentiment of these big-money traders is split between 64% bullish and 28%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $31,820, and 13, calls, for a total amount of $626,459.
Predicted Price Range
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 $170.0 for Johnson & Johnson, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Johnson & Johnson options trades today is 2927.67 with a total volume of 22,220.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Johnson & Johnson's big money trades within a strike price range of $120.0 to $170.0 over the last 30 days.
Johnson & Johnson Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| JNJ | CALL | SWEEP | BEARISH | 09/20/24 | $1.88 | $1.76 | $1.76 | $170.00 | $142.7K | 3.4K | 1.6K |
| JNJ | CALL | SWEEP | BULLISH | 08/02/24 | $2.25 | $2.19 | $2.25 | $162.50 | $69.5K | 4.5K | 728 |
| JNJ | CALL | SWEEP | BULLISH | 08/02/24 | $2.0 | $1.92 | $2.0 | $162.50 | $63.4K | 4.5K | 728 |
| JNJ | CALL | SWEEP | BULLISH | 09/20/24 | $3.75 | $3.6 | $3.7 | $165.00 | $50.7K | 9.4K | 356 |
| JNJ | CALL | SWEEP | BULLISH | 08/02/24 | $1.1 | $1.01 | $1.1 | $162.50 | $43.9K | 4.5K | 6.7K |
About Johnson & Johnson
Johnson & Johnson is the world's largest and most diverse healthcare firm. It has two divisions: pharmaceutical and medical devices. These now represent all of the company's sales following the divestment of the consumer business, Kenvue, in 2023. The drug division focuses on the following therapeutic areas: immunology, oncology, neurology, pulmonary, cardiology, and metabolic diseases. Geographically, just over half of total revenue is generated in the United States.
Where Is Johnson & Johnson Standing Right Now?
- Currently trading with a volume of 7,175,812, the JNJ's price is up by 1.54%, now at $163.24.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 74 days.
What The Experts Say On Johnson & Johnson
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $170.8.
- In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $175.
- An analyst from TD Cowen persists with their Buy rating on Johnson & Johnson, maintaining a target price of $185.
- In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $175.
- An analyst from Daiwa Capital has revised its rating downward to Neutral, adjusting the price target to $150.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Johnson & Johnson, targeting a price of $169.
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 Johnson & Johnson, 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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