Someone with a lot of money to spend has taken a bullish stance on Seagen SGEN.
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 SGEN, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 15 options trades for Seagen.
This isn't normal.
The overall sentiment of these big-money traders is split between 66% bullish and 33%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $75,000, and 14, calls, for a total amount of $661,216..
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 $180.0 to $210.0 for Seagen over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Seagen options trades today is 640.17 with a total volume of 1,622.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Seagen's big money trades within a strike price range of $180.0 to $210.0 over the last 30 days.
Seagen 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 |
|---|---|---|---|---|---|---|---|---|
| SGEN | CALL | SWEEP | BULLISH | 05/19/23 | $200.00 | $109.8K | 506 | 409 |
| SGEN | CALL | SWEEP | BEARISH | 05/19/23 | $200.00 | $103.0K | 506 | 54 |
| SGEN | PUT | TRADE | BEARISH | 05/19/23 | $210.00 | $75.0K | 0 | 0 |
| SGEN | CALL | SWEEP | BULLISH | 05/19/23 | $200.00 | $52.2K | 506 | 232 |
| SGEN | CALL | SWEEP | BULLISH | 03/17/23 | $185.00 | $52.0K | 1.8K | 43 |
Where Is Seagen Standing Right Now?
- With a volume of 1,363,686, the price of SGEN is up 15.55% at $199.46.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 45 days.
What The Experts Say On Seagen:
- Oppenheimer has decided to maintain their Outperform rating on Seagen, which currently sits at a price target of $180.
- Raymond James upgraded its action to Strong Buy with a price target of $175
- RBC Capital has decided to maintain their Outperform rating on Seagen, which currently sits at a price target of $155.
- Oppenheimer has decided to maintain their Outperform rating on Seagen, which currently sits at a price target of $210.
- Needham has decided to maintain their Buy rating on Seagen, which currently sits at a price target of $178.
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 Seagen, 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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