Deep-pocketed investors have adopted a bullish approach towards AbbVie ABBV, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ABBV usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for AbbVie. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 63% leaning bullish and 36% bearish. Among these notable options, 3 are puts, totaling $205,521, and 8 are calls, amounting to $353,834.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $135.0 to $165.0 for AbbVie over the recent three months.
Analyzing 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 $135.0 to $165.0 in the last 30 days.
AbbVie 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ABBV | PUT | TRADE | BULLISH | 12/15/23 | $165.00 | $108.9K | 0 | 42 |
| ABBV | CALL | TRADE | BULLISH | 11/17/23 | $135.00 | $66.0K | 2.6K | 150 |
| ABBV | CALL | SWEEP | BULLISH | 11/17/23 | $135.00 | $63.7K | 2.6K | 0 |
| ABBV | PUT | TRADE | BULLISH | 05/17/24 | $140.00 | $50.4K | 1.8K | 52 |
| ABBV | CALL | TRADE | BEARISH | 05/17/24 | $140.00 | $47.4K | 1.3K | 53 |
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.
AbbVie's Current Market Status
- With a volume of 2,475,124, the price of ABBV is down -0.17% at $138.41.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 86 days.
What Analysts Are Saying About AbbVie
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $172.0.
- An analyst from Morgan Stanley persists with their Overweight rating on AbbVie, maintaining a target price of $196.
- An analyst from Deutsche Bank has revised its rating downward to Hold, adjusting the price target to $150.
- 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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