Deep-pocketed investors have adopted a bearish approach towards AbbVie ABBV, 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 ABBV usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for AbbVie. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 22% leaning bullish and 66% bearish. Among these notable options, 6 are puts, totaling $245,058, and 3 are calls, amounting to $384,516.
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 $155.0 and $210.0 for AbbVie, spanning the last three months.
Volume & Open Interest Development
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 $155.0 to $210.0 in the last 30 days.
AbbVie 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ABBV | CALL | SWEEP | BEARISH | 01/17/25 | $38.95 | $38.5 | $38.5 | $160.00 | $231.0K | 3.1K | 62 |
| ABBV | CALL | TRADE | BEARISH | 09/20/24 | $41.1 | $40.95 | $40.95 | $155.00 | $126.9K | 250 | 31 |
| ABBV | PUT | SWEEP | NEUTRAL | 01/17/25 | $9.25 | $9.1 | $9.2 | $195.00 | $73.6K | 435 | 82 |
| ABBV | PUT | TRADE | BEARISH | 06/20/25 | $16.45 | $15.7 | $16.45 | $200.00 | $52.6K | 175 | 37 |
| ABBV | PUT | TRADE | BEARISH | 06/20/25 | $8.8 | $8.05 | $8.8 | $180.00 | $35.2K | 849 | 40 |
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.
Current Position of AbbVie
- With a trading volume of 2,078,162, the price of ABBV is up by 0.01%, reaching $195.42.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 57 days from now.
Expert Opinions on AbbVie
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $209.0.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on AbbVie with a target price of $218.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $200.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for AbbVie, targeting a price of $209.
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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