Someone with a lot of money to spend has taken a bullish stance on Illumina ILMN.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with ILMN, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Illumina.
This isn't normal.
The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $49,000, and 9, calls, for a total amount of $1,065,049..
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $220.0 to $260.0 for Illumina over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Illumina options trades today is 161.67 with a total volume of 1,366.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Illumina's big money trades within a strike price range of $220.0 to $260.0 over the last 30 days.
Illumina Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ILMN | CALL | SWEEP | BEARISH | 01/19/24 | $230.00 | $399.3K | 57 | 91 |
| ILMN | CALL | TRADE | BEARISH | 01/19/24 | $240.00 | $238.5K | 28 | 61 |
| ILMN | CALL | SWEEP | BEARISH | 10/21/22 | $260.00 | $202.1K | 15 | 531 |
| ILMN | PUT | TRADE | BEARISH | 09/16/22 | $230.00 | $49.0K | 140 | 41 |
| ILMN | CALL | TRADE | BULLISH | 01/19/24 | $240.00 | $40.5K | 28 | 73 |
Where Is Illumina Standing Right Now?
- With a volume of 803,285, the price of ILMN is down -4.79% at $215.73.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 79 days.
What The Experts Say On Illumina:
- Morgan Stanley has decided to maintain their Equal-Weight rating on Illumina, which currently sits at a price target of $240.
- Citigroup has decided to maintain their Neutral rating on Illumina, which currently sits at a price target of $200.
- Stifel has decided to maintain their Buy rating on Illumina, which currently sits at a price target of $300.
- SVB Leerink has decided to maintain their Market Perform rating on Illumina, which currently sits at a price target of $220.
- Piper Sandler has decided to maintain their Overweight rating on Illumina, which currently sits at a price target of $320.
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 Illumina, 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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