Deep-pocketed investors have adopted a bearish 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 20 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 45% leaning bullish and 50% bearish. Among these notable options, 15 are puts, totaling $739,514, and 5 are calls, amounting to $274,325.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $95.0 to $135.0 for Novo Nordisk over the last 3 months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Novo Nordisk's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Novo Nordisk's significant trades, within a strike price range of $95.0 to $135.0, over the past month.
Novo Nordisk Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVO | PUT | SWEEP | BULLISH | 01/17/25 | $6.2 | $6.1 | $6.1 | $110.00 | $151.2K | 1.9K | 559 |
| NVO | PUT | TRADE | BULLISH | 06/20/25 | $4.45 | $4.3 | $4.31 | $95.00 | $86.1K | 211 | 0 |
| NVO | CALL | SWEEP | BULLISH | 12/20/24 | $6.0 | $5.85 | $5.93 | $120.00 | $69.5K | 902 | 153 |
| NVO | CALL | TRADE | BULLISH | 03/21/25 | $4.35 | $4.25 | $4.35 | $135.00 | $65.2K | 908 | 151 |
| NVO | PUT | TRADE | BEARISH | 10/18/24 | $2.52 | $2.49 | $2.52 | $115.00 | $62.7K | 3.5K | 581 |
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
Novo Nordisk's Current Market Status
- Currently trading with a volume of 4,698,394, the NVO's price is down by -0.73%, now at $114.24.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 33 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.
Turn $1000 into $1270 in just 20 days?
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 has revised its rating downward to Overweight, adjusting the price target to $160. * An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $160. * An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $160.
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 Novo Nordisk with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
