A whale with a lot of money to spend has taken a noticeably bearish stance on Amgen.
Looking at options history for Amgen AMGN we detected 16 strange trades.
If we consider the specifics of each trade, it is accurate to state that 18% of the investors opened trades with bullish expectations and 81% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $272,360 and 11, calls, for a total amount of $675,532.
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 $240.0 to $320.0 for Amgen over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Amgen options trades today is 674.15 with a total volume of 1,633.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Amgen's big money trades within a strike price range of $240.0 to $320.0 over the last 30 days.
Amgen 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 |
|---|---|---|---|---|---|---|---|---|
| AMGN | CALL | SWEEP | BULLISH | 11/17/23 | $290.00 | $145.5K | 2.5K | 348 |
| AMGN | CALL | SWEEP | BEARISH | 01/19/24 | $305.00 | $131.6K | 177 | 295 |
| AMGN | CALL | SWEEP | BEARISH | 11/17/23 | $280.00 | $90.3K | 1.2K | 105 |
| AMGN | PUT | SWEEP | BULLISH | 01/19/24 | $290.00 | $79.3K | 31 | 51 |
| AMGN | CALL | SWEEP | BEARISH | 12/01/23 | $295.00 | $60.7K | 7 | 150 |
Where Is Amgen Standing Right Now?
- With a volume of 1,625,970, the price of AMGN is down -1.19% at $283.48.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 14 days.
What The Experts Say On Amgen:
- Oppenheimer has decided to maintain their Outperform rating on Amgen, which currently sits at a price target of $290.
- B of A Securities downgraded its action to Neutral with a price target of $290
- Jefferies downgraded its action to Buy with a price target of $310
- Argus Research has decided to maintain their Buy rating on Amgen, which currently sits at a price target of $280.
- Argus Research has decided to maintain their Buy rating on Amgen, which currently sits at a price target of $310.
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 Amgen, 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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