Deep-pocketed investors have adopted a bullish approach towards Novo Nordisk NVO, 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 NVO usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for Novo Nordisk. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 64% leaning bullish and 35% bearish. Among these notable options, 8 are puts, totaling $451,772, and 9 are calls, amounting to $508,244.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $70.0 to $135.0 for Novo Nordisk during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Novo Nordisk options trades today is 703.94 with a total volume of 3,639.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Novo Nordisk's big money trades within a strike price range of $70.0 to $135.0 over the last 30 days.
Novo Nordisk 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVO | CALL | TRADE | BULLISH | 12/20/24 | $5.15 | $5.0 | $5.1 | $125.00 | $127.5K | 3.5K | 2.3K |
| NVO | PUT | TRADE | BULLISH | 01/15/27 | $18.6 | $17.6 | $18.0 | $115.00 | $90.0K | 114 | 50 |
| NVO | CALL | SWEEP | BULLISH | 12/20/24 | $6.95 | $6.9 | $6.95 | $120.00 | $86.8K | 250 | 201 |
| NVO | PUT | SWEEP | BULLISH | 11/15/24 | $11.05 | $10.9 | $10.9 | $125.00 | $86.1K | 1.3K | 120 |
| NVO | CALL | SWEEP | BEARISH | 01/17/25 | $21.0 | $20.85 | $20.85 | $100.00 | $83.3K | 1.2K | 40 |
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.
Following our analysis of the options activities associated with Novo Nordisk, we pivot to a closer look at the company's own performance.
Novo Nordisk's Current Market Status
- With a volume of 4,460,331, the price of NVO is down -1.46% at $116.29.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 35 days.
Professional Analyst Ratings for Novo Nordisk
In the last month, 3 experts released ratings on this stock with an average target price of $160.0.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $160. * An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $160. * An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $160.
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If you want to stay updated on the latest options trades for Novo Nordisk, Benzinga Pro gives you real-time options trades alerts.
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