Investors with a lot of money to spend have taken a bearish stance on AbbVie ABBV.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ABBV, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 10 uncommon options trades for AbbVie.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 70%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $344,346, and 6 are calls, for a total amount of $244,334.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $165.0 for AbbVie over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for AbbVie's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of AbbVie's whale activity within a strike price range from $100.0 to $165.0 in the last 30 days.
AbbVie 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ABBV | PUT | TRADE | NEUTRAL | 12/15/23 | $165.00 | $212.5K | 0 | 77 |
| ABBV | PUT | SWEEP | BEARISH | 01/19/24 | $140.00 | $61.5K | 7.9K | 163 |
| ABBV | CALL | SWEEP | BEARISH | 01/17/25 | $165.00 | $57.5K | 782 | 124 |
| ABBV | CALL | SWEEP | BEARISH | 01/17/25 | $165.00 | $55.2K | 782 | 123 |
| ABBV | PUT | SWEEP | BEARISH | 01/19/24 | $130.00 | $42.1K | 3.2K | 27 |
About AbbVie
AbbVie is a pharmaceutical firm with a strong exposure to immunology and oncology. The firm's top drug, Humira, represents close to half of the company's current profits. The company was spun off from Abbott in early 2013. The recent acquisition of Allergan adds several new drugs in aesthetics and women's health.
Present Market Standing of AbbVie
- Currently trading with a volume of 3,077,205, the ABBV's price is down by -0.73%, now at $141.0.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 91 days.
What Analysts Are Saying About AbbVie
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $177.25.
- An analyst from Deutsche Bank has revised its rating downward to Hold, adjusting the price target to $150.
- An analyst from Morgan Stanley persists with their Overweight rating on AbbVie, maintaining a target price of $196.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on AbbVie with a target price of $193.
- An analyst from Barclays has elevated its stance to Overweight, setting a new price target at $170.
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 AbbVie, 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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