Deep-pocketed investors have adopted a bullish approach towards Incyte INCY, 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 INCY 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 Incyte. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 37% bearish. Among these notable options, 3 are puts, totaling $414,097, and 5 are calls, amounting to $303,700.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $72.5 to $95.0 for Incyte during the past quarter.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Incyte's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Incyte's substantial trades, within a strike price spectrum from $72.5 to $95.0 over the preceding 30 days.
Incyte Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| INCY | PUT | SWEEP | BULLISH | 02/21/25 | $5.3 | $4.3 | $4.0 | $72.50 | $240.0K | 1.3K | 1.0K |
| INCY | PUT | SWEEP | BULLISH | 02/21/25 | $5.0 | $4.5 | $4.5 | $72.50 | $107.3K | 1.3K | 281 |
| INCY | CALL | TRADE | NEUTRAL | 01/16/26 | $4.8 | $3.4 | $4.2 | $95.00 | $84.0K | 368 | 300 |
| INCY | CALL | TRADE | BEARISH | 03/21/25 | $1.9 | $1.7 | $1.7 | $80.00 | $68.0K | 833 | 501 |
| INCY | PUT | TRADE | BULLISH | 02/21/25 | $5.3 | $3.5 | $4.2 | $72.50 | $66.7K | 1.3K | 440 |
About Incyte
Incyte focuses on the discovery and development of small-molecule drugs. The firm's lead drug, Jakafi, treats two types of rare blood cancer and graft versus host disease and is partnered with Novartis. Incyte's other marketed drugs include rheumatoid arthritis treatment Olumiant (licensed to Lilly), and oncology drugs Iclusig (chronic myeloid leukemia), Pemazyre (cholangiocarcinoma), Tabrecta (lung cancer), and Monjuvi (diffuse large B-cell lymphoma). The firm's first dermatology product, Opzelura, was approved in 2021 for atopic dermatitis and 2022 for vitiligo. Incyte's pipeline includes a broad array of oncology and dermatology programs.
After a thorough review of the options trading surrounding Incyte, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Incyte
- Currently trading with a volume of 1,924,101, the INCY's price is down by -6.46%, now at $69.34.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 0 days.
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