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 67 extraordinary options activities for AbbVie. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 49% leaning bullish and 40% bearish. Among these notable options, 28 are puts, totaling $3,191,727, and 39 are calls, amounting to $2,222,893.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $125.0 to $210.0 for AbbVie over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of AbbVie stands at 1779.73, with a total volume reaching 42,171.00. 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 $125.0 to $210.0, throughout the last 30 days.
AbbVie Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ABBV | PUT | SWEEP | BEARISH | 12/20/24 | $25.2 | $24.65 | $25.2 | $200.00 | $612.3K | 1.8K | 344 |
| ABBV | CALL | TRADE | BULLISH | 06/20/25 | $7.2 | $7.0 | $7.15 | $190.00 | $286.0K | 458 | 410 |
| ABBV | CALL | SWEEP | BEARISH | 12/20/24 | $3.05 | $3.0 | $3.05 | $180.00 | $168.4K | 603 | 615 |
| ABBV | PUT | TRADE | BULLISH | 01/17/25 | $6.1 | $6.0 | $6.0 | $175.00 | $148.8K | 5.5K | 1.7K |
| ABBV | PUT | SWEEP | BEARISH | 12/20/24 | $21.4 | $20.75 | $21.4 | $195.00 | $136.9K | 4.1K | 901 |
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).
Having examined the options trading patterns of AbbVie, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of AbbVie
- With a trading volume of 12,085,730, the price of ABBV is down by -12.31%, reaching $174.95.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 81 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 $218.6.
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. * Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for AbbVie, targeting a price of $220. * An analyst from Citigroup persists with their Buy rating on AbbVie, maintaining a target price of $226. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for AbbVie, targeting a price of $231. * An analyst from Guggenheim persists with their Buy rating on AbbVie, maintaining a target price of $221. * Consistent in their evaluation, an analyst from B of A Securities keeps a Neutral rating on AbbVie with a target price of $195.
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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