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 9 uncommon options trades for Novo Nordisk.
This isn't normal.
The overall sentiment of these big-money traders is split between 55% bullish and 33%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $412,586, and 2 are calls, for a total amount of $75,090.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $82.5 to $120.0 for Novo Nordisk over the recent three months.
Volume & Open Interest Development
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 $82.5 to $120.0 over the preceding 30 days.
Novo Nordisk Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVO | PUT | SWEEP | NEUTRAL | 01/17/25 | $3.1 | $3.05 | $3.1 | $92.50 | $161.8K | 653 | 693 |
| NVO | PUT | SWEEP | BULLISH | 12/20/24 | $1.66 | $1.65 | $1.65 | $90.00 | $81.0K | 9.9K | 1.1K |
| NVO | CALL | TRADE | BEARISH | 12/20/24 | $5.05 | $4.85 | $4.85 | $105.00 | $45.5K | 740 | 157 |
| NVO | PUT | TRADE | BULLISH | 12/20/24 | $19.15 | $19.05 | $19.05 | $120.00 | $43.8K | 3.3K | 42 |
| NVO | PUT | SWEEP | BULLISH | 01/17/25 | $3.15 | $3.05 | $3.1 | $92.50 | $39.0K | 653 | 162 |
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.
After a thorough review of the options trading surrounding Novo Nordisk, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Novo Nordisk Standing Right Now?
- Trading volume stands at 1,812,025, with NVO's price down by -3.84%, positioned at $101.28.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 75 days.
What Analysts Are Saying About Novo Nordisk
In the last month, 2 experts released ratings on this stock with an average target price of $158.0.
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. * Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $160. * An analyst from BMO Capital has decided to maintain their Outperform rating on Novo Nordisk, which currently sits at a price target of $156.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Novo Nordisk options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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