Deep-pocketed investors have adopted a bullish approach towards AbbVie ABBV, 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 ABBV usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for AbbVie. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 41% leaning bullish and 41% bearish. Among these notable options, 4 are puts, totaling $219,498, and 8 are calls, amounting to $6,020,552.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $160.0 and $197.5 for AbbVie, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for AbbVie's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of AbbVie's whale activity within a strike price range from $160.0 to $197.5 in the last 30 days.
AbbVie 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ABBV | CALL | TRADE | NEUTRAL | 01/17/25 | $12.6 | $12.4 | $12.5 | $185.00 | $5.6M | 3.5K | 4.5K |
| ABBV | PUT | TRADE | BEARISH | 01/17/25 | $1.26 | $1.17 | $1.24 | $160.00 | $124.0K | 4.7K | 1.0K |
| ABBV | CALL | SWEEP | BULLISH | 11/15/24 | $6.3 | $6.25 | $6.3 | $190.00 | $106.4K | 3.4K | 1.0K |
| ABBV | CALL | TRADE | BEARISH | 11/15/24 | $6.3 | $6.2 | $6.2 | $190.00 | $68.2K | 3.4K | 871 |
| ABBV | CALL | SWEEP | BEARISH | 11/08/24 | $2.95 | $2.77 | $2.77 | $197.50 | $63.1K | 5 | 427 |
About AbbVie
AbbVie is a pharmaceutical firm with a strong exposure to immunology (with Humira, Skyrizi, and Rinvoq) and oncology (with Imbruvica and Venclexta). The company was spun off from Abbott in early 2013. The 2020 acquisition of Allergan added several new products and drugs in aesthetics (including Botox).
Following our analysis of the options activities associated with AbbVie, we pivot to a closer look at the company's own performance.
Where Is AbbVie Standing Right Now?
- With a trading volume of 4,019,775, the price of ABBV is up by 0.02%, reaching $187.92.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 6 days from now.
Professional Analyst Ratings for AbbVie
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $211.0.
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. * An analyst from Bernstein has revised its rating downward to Market Perform, adjusting the price target to $203. * An analyst from TD Cowen persists with their Buy rating on AbbVie, maintaining a target price of $225. * An analyst from Barclays persists with their Overweight rating on AbbVie, maintaining a target price of $212. * Consistent in their evaluation, an analyst from B of A Securities keeps a Neutral rating on AbbVie with a target price of $195. * An analyst from BMO Capital has decided to maintain their Outperform rating on AbbVie, which currently sits at a price target of $220.
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 AbbVie, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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