Behind the Scenes of Amgen's Latest Options Trends

Investors with a lot of money to spend have taken a bearish stance on Amgen AMGN.

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 AMGN, 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 12 uncommon options trades for Amgen.

This isn't normal.

The overall sentiment of these big-money traders is split between 33% bullish and 50%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $67,500, and 10 are calls, for a total amount of $496,525.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $260.0 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 $260.0 to $340.0 in the last 30 days.

Amgen Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

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 drugs Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx Pharmaceuticals 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 brought several rare-disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.

Where Is Amgen Standing Right Now?

• With a trading volume of 1,336,050, the price of AMGN is up by 1.95%, reaching $316.85.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 58 days from now.

What The Experts Say On Amgen

2 market experts have recently issued ratings for this stock, with a consensus target price of $302.0.

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 Piper Sandler continues to hold a Overweight rating for Amgen, targeting a price of $329. * Consistent in their evaluation, an analyst from B of A Securities keeps a Underperform rating on Amgen with a target price of $275.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Amgen with Benzinga Pro for real-time alerts.