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 13 options trades for AbbVie.
This isn't normal.
The overall sentiment of these big-money traders is split between 46% bullish and 46%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $33,000, and 12, calls, for a total amount of $817,396.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $155.0 to $200.0 for AbbVie over the last 3 months.
Volume & Open Interest Development
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 $155.0 to $200.0 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 | BEARISH | 10/18/24 | $16.9 | $16.85 | $16.85 | $180.00 | $337.0K | 676 | 200 |
| ABBV | CALL | SWEEP | NEUTRAL | 10/18/24 | $3.3 | $3.25 | $3.25 | $200.00 | $109.1K | 2.4K | 520 |
| ABBV | CALL | SWEEP | BULLISH | 09/20/24 | $21.9 | $20.75 | $21.95 | $175.00 | $52.6K | 2.9K | 111 |
| ABBV | CALL | SWEEP | BEARISH | 10/18/24 | $21.95 | $21.6 | $21.72 | $175.00 | $52.1K | 287 | 0 |
| ABBV | CALL | TRADE | BULLISH | 11/15/24 | $15.1 | $15.05 | $15.1 | $185.00 | $37.7K | 3.1K | 88 |
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).
Present Market Standing of AbbVie
- Currently trading with a volume of 1,562,326, the ABBV's price is down by -1.93%, now at $195.5.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 44 days.
Professional Analyst Ratings for AbbVie
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $209.0.
- An analyst from Piper Sandler has decided to maintain their Overweight rating on AbbVie, which currently sits at a price target 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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