A whale with a lot of money to spend has taken a noticeably bearish stance on Biogen.
Looking at options history for Biogen BIIB we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 63% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $522,463 and 8, calls, for a total amount of $417,120.
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 $280.0 to $400.0 for Biogen over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Biogen options trades today is 247.5 with a total volume of 1,272.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Biogen's big money trades within a strike price range of $280.0 to $400.0 over the last 30 days.
Biogen 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 |
|---|---|---|---|---|---|---|---|---|
| BIIB | PUT | SWEEP | BULLISH | 01/19/24 | $305.00 | $258.5K | 142 | 167 |
| BIIB | PUT | SWEEP | BEARISH | 01/19/24 | $305.00 | $164.4K | 142 | 167 |
| BIIB | CALL | TRADE | BULLISH | 01/19/24 | $280.00 | $114.0K | 86 | 0 |
| BIIB | PUT | SWEEP | BULLISH | 01/19/24 | $305.00 | $99.4K | 142 | 5 |
| BIIB | CALL | SWEEP | BEARISH | 01/19/24 | $400.00 | $69.1K | 232 | 66 |
Where Is Biogen Standing Right Now?
- With a volume of 996,540, the price of BIIB is up 1.87% at $315.06.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 77 days.
What The Experts Say On Biogen:
- Canaccord Genuity has decided to maintain their Buy rating on Biogen, which currently sits at a price target of $330.
- Needham downgraded its action to Buy with a price target of $325
- Wedbush downgraded its action to Neutral with a price target of $263
- B of A Securities has decided to maintain their Neutral rating on Biogen, which currently sits at a price target of $300.
- Guggenheim upgraded its action to Buy with a price target of $350
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 Biogen, 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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