Financial giants have made a conspicuous bullish move on Novo Nordisk. Our analysis of options history for Novo Nordisk NVO revealed 11 unusual trades.
Delving into the details, we found 45% of traders were bullish, while 36% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $62,093, and 9 were calls, valued at $571,553.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $70.0 to $140.0 for Novo Nordisk over the recent three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Novo Nordisk'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 Novo Nordisk's whale activity within a strike price range from $70.0 to $140.0 in the last 30 days.
Novo Nordisk Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVO | CALL | SWEEP | BULLISH | 10/18/24 | $2.87 | $2.85 | $2.86 | $140.00 | $160.0K | 1.1K | 495 |
| NVO | CALL | TRADE | BULLISH | 01/16/26 | $25.0 | $24.15 | $25.0 | $130.00 | $125.0K | 701 | 50 |
| NVO | CALL | SWEEP | BEARISH | 03/21/25 | $14.3 | $14.1 | $14.1 | $135.00 | $63.4K | 726 | 51 |
| NVO | CALL | SWEEP | NEUTRAL | 10/18/24 | $2.92 | $2.86 | $2.89 | $140.00 | $59.8K | 1.1K | 796 |
| NVO | CALL | SWEEP | BULLISH | 10/11/24 | $4.35 | $4.25 | $4.3 | $135.00 | $36.5K | 108 | 85 |
About Novo Nordisk
With roughly one third of the global branded diabetes treatment market, Novo Nordisk is the leading provider of diabetes-care products in the world. Based in Denmark, the company manufactures and markets a variety of human and modern insulins, injectable diabetes treatments such as GLP-1 therapy, oral antidiabetic agents, and obesity treatments. Novo also has a biopharmaceutical segment (constituting roughly 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.
Having examined the options trading patterns of Novo Nordisk, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Novo Nordisk Standing Right Now?
- Currently trading with a volume of 292,034, the NVO's price is up by 1.92%, now at $134.59.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 42 days.
What The Experts Say On Novo Nordisk
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $160.0.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $160.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $160.
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 Novo Nordisk, 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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