Behind the Scenes of Novo Nordisk's Latest Options Trends

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 15 uncommon options trades for Novo Nordisk.

This isn't normal.

The overall sentiment of these big-money traders is split between 53% bullish and 40%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $369,668, and 11 are calls, for a total amount of $1,968,285.

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 $90.0 to $130.0 for Novo Nordisk over the last 3 months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Novo Nordisk's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Novo Nordisk's substantial trades, within a strike price spectrum from $90.0 to $130.0 over the preceding 30 days.

Novo Nordisk Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

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.

Present Market Standing of Novo Nordisk

• With a trading volume of 1,633,351, the price of NVO is up by 0.47%, reaching $118.59.
• Current RSI values indicate that the stock is may be oversold.
• Next earnings report is scheduled for 20 days from now.

What Analysts Are Saying About Novo Nordisk

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $158.66666666666666.

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. * Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on Novo Nordisk with a target price of $156. * Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new 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.