Deep-pocketed investors have adopted a bullish approach towards Amgen AMGN, 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 AMGN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Amgen. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 25% bearish. Among these notable options, 4 are puts, totaling $137,540, and 4 are calls, amounting to $285,919.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $290.0 to $340.0 for Amgen over the recent three months.
Insights into 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 Amgen'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 Amgen's whale activity within a strike price range from $290.0 to $340.0 in the last 30 days.
Amgen Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMGN | CALL | SWEEP | BULLISH | 01/15/27 | $43.6 | $43.55 | $43.6 | $300.00 | $196.2K | 25 | 0 |
| AMGN | PUT | SWEEP | BULLISH | 01/17/25 | $52.8 | $51.5 | $51.5 | $340.00 | $51.5K | 190 | 19 |
| AMGN | CALL | TRADE | BULLISH | 12/20/24 | $10.3 | $9.2 | $10.0 | $310.00 | $38.0K | 1.8K | 62 |
| AMGN | PUT | SWEEP | NEUTRAL | 12/20/24 | $15.65 | $15.2 | $15.45 | $290.00 | $33.9K | 1.5K | 30 |
| AMGN | CALL | TRADE | BEARISH | 12/06/24 | $2.95 | $2.08 | $2.29 | $340.00 | $26.5K | 112 | 121 |
About Amgen
Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). The 2023 Horizon acquisition brings several rare-disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.
Amgen's Current Market Status
- Currently trading with a volume of 856,173, the AMGN's price is down by -2.03%, now at $295.33.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 82 days.
What Analysts Are Saying About Amgen
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $360.8.
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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 Bernstein downgraded its action to Outperform with a price target of $380. * Maintaining their stance, an analyst from Jefferies continues to hold a Buy rating for Amgen, targeting a price of $380. * In a cautious move, an analyst from Citigroup downgraded its rating to Neutral, setting a price target of $335. * An analyst from TD Cowen persists with their Buy rating on Amgen, maintaining a target price of $383. * Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Amgen, targeting a price of $326.
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 Amgen, 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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