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 10 extraordinary options activities for AbbVie. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 60% leaning bullish and 30% bearish. Among these notable options, 5 are puts, totaling $278,297, and 5 are calls, amounting to $313,414.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $180.0 to $210.0 for AbbVie over the recent three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of AbbVie stands at 2210.14, with a total volume reaching 6,502.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in AbbVie, situated within the strike price corridor from $180.0 to $210.0, throughout the last 30 days.
AbbVie Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ABBV | PUT | SWEEP | BEARISH | 11/15/24 | $2.4 | $2.03 | $2.4 | $185.00 | $120.0K | 3.2K | 504 |
| ABBV | CALL | SWEEP | BULLISH | 11/15/24 | $7.35 | $7.3 | $7.35 | $190.00 | $90.4K | 3.2K | 254 |
| ABBV | CALL | SWEEP | BEARISH | 11/01/24 | $1.91 | $1.7 | $1.9 | $192.50 | $86.3K | 568 | 665 |
| ABBV | CALL | SWEEP | BULLISH | 12/20/24 | $2.63 | $2.59 | $2.59 | $210.00 | $68.1K | 1.8K | 293 |
| ABBV | PUT | SWEEP | BEARISH | 11/15/24 | $2.28 | $1.98 | $2.28 | $185.00 | $57.0K | 3.2K | 754 |
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).
Current Position of AbbVie
- Currently trading with a volume of 1,914,806, the ABBV's price is up by 1.5%, now at $192.3.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 0 days.
Expert Opinions on AbbVie
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $214.0.
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. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for AbbVie, targeting a price of $215. * Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for AbbVie, targeting a price of $195. * An analyst from Truist Securities persists with their Buy rating on AbbVie, maintaining a target price of $215. * An analyst from TD Cowen has decided to maintain their Buy rating on AbbVie, which currently sits at a price target of $225. * Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on AbbVie with a target price 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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
