What the Options Market Tells Us About Walgreens Boots Alliance

Investors with a lot of money to spend have taken a bullish stance on Walgreens Boots Alliance WBA.

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 WBA, 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 Walgreens Boots Alliance.

This isn't normal.

The overall sentiment of these big-money traders is split between 66% bullish and 33%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $317,948, and 6 are calls, for a total amount of $251,974.

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 $7.5 to $12.5 for Walgreens Boots Alliance over the last 3 months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Walgreens Boots Alliance options trades today is 8118.0 with a total volume of 10,303.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Walgreens Boots Alliance's big money trades within a strike price range of $7.5 to $12.5 over the last 30 days.

Walgreens Boots Alliance Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

About Walgreens Boots Alliance

Walgreens Boots Alliance is one of the largest retail pharmacy chains in the US, with over 8,500 locations. Nearly three quarters of Americans live within five miles of a Walgreens location. Roughly two thirds of revenue is generated from prescription drug sales; Walgreens makes up 20% of total prescription revenue in the US. Walgreens also generates sales from retail products (general wellness consumables and its own branded merchandise), European drug wholesale, and healthcare. With more locations incorporating additional services like Health Corner and Village Medical, Walgreens creates an omnichannel experience for patients and positions itself as a one-stop healthcare provider.

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

Current Position of Walgreens Boots Alliance

• Currently trading with a volume of 14,363,721, the WBA's price is up by 1.41%, now at $8.64.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 18 days.

What The Experts Say On Walgreens Boots Alliance

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $12.833333333333334.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from TD Cowen keeps a Buy rating on Walgreens Boots Alliance with a target price of $16. * Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Walgreens Boots Alliance with a target price of $15. * Consistent in their evaluation, an analyst from B of A Securities keeps a Underperform rating on Walgreens Boots Alliance with a target price of $7.

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 Walgreens Boots Alliance with Benzinga Pro for real-time alerts.