Amgen's Options: A Look at What the Big Money is Thinking

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 10 extraordinary options activities for Amgen. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 70% leaning bullish and 20% bearish. Among these notable options, 5 are puts, totaling $244,892, and 5 are calls, amounting to $666,670.

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 $300.0 to $400.0 for Amgen during the past quarter.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Amgen's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Amgen's significant trades, within a strike price range of $300.0 to $400.0, over the past month.

Amgen 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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.

Present Market Standing of Amgen

• With a volume of 1,655,254, the price of AMGN is down -1.14% at $315.26.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 50 days.

What Analysts Are Saying About Amgen

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $294.0.

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 B of A Securities continues to hold a Underperform rating for Amgen, targeting a price of $294.

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 Amgen options trades with real-time alerts from Benzinga Pro.