A Closer Look at Novo Nordisk's Options Market Dynamics

Investors with a lot of money to spend have taken a bullish stance on Novo Nordisk NVO.

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 NVO, 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 16 uncommon options trades for Novo Nordisk.

This isn't normal.

The overall sentiment of these big-money traders is split between 56% bullish and 37%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $297,458, and 10 are calls, for a total amount of $494,585.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $97.5 and $200.0 for Novo Nordisk, spanning the last three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Novo Nordisk options trades today is 1618.08 with a total volume of 3,971.00.

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 $97.5 to $200.0 over the last 30 days.

Novo Nordisk Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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.

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

Current Position of Novo Nordisk

• With a volume of 3,463,686, the price of NVO is down -0.18% at $116.99.
• RSI indicators hint that the underlying stock may be oversold.
• Next earnings are expected to be released in 28 days.

Expert Opinions 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.

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. * 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.