Amgen Unusual Options Activity For August 29

Investors with a lot of money to spend have taken a bullish stance on Amgen AMGN.

And retail traders should know.

We noticed this today when the trades 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 AMGN, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 9 uncommon options trades for Amgen.

This isn't normal.

The overall sentiment of these big-money traders is split between 55% bullish and 33%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $411,439, and 4 are calls, for a total amount of $173,429.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $300.0 to $400.0 for Amgen during the past quarter.

Volume & Open Interest Trends

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 Amgen'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 Amgen's whale trades within a strike price range from $300.0 to $400.0 in the last 30 days.

Amgen Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Amgen

Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). The 2023 Horizon acquisition brings several rare-disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.

In light of the recent options history for Amgen, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Amgen's Current Market Status

• With a trading volume of 630,415, the price of AMGN is up by 0.45%, reaching $330.96.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 61 days from now.

Expert Opinions on Amgen

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $346.2.

• Reflecting concerns, an analyst from Wells Fargo lowers its rating to Equal-Weight with a new price target of $335.
• Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for Amgen, targeting a price of $381.
• Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Amgen, targeting a price of $380.
• An analyst from Deutsche Bank downgraded its action to Hold with a price target of $305.
• Consistent in their evaluation, an analyst from B of A Securities keeps a Neutral rating on Amgen with a target price of $330.

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 Amgen options trades with real-time alerts from Benzinga Pro.