Deep-pocketed investors have adopted a bullish approach towards Novo Nordisk NVO, 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 NVO usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Novo Nordisk. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 70% leaning bullish and 30% bearish. Among these notable options, 2 are puts, totaling $199,086, and 8 are calls, amounting to $530,520.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $80.0 to $110.0 for Novo Nordisk during the past quarter.
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 Novo Nordisk'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 Novo Nordisk's whale activity within a strike price range from $80.0 to $110.0 in the last 30 days.
Novo Nordisk Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NVO | PUT | SWEEP | BULLISH | 12/01/23 | $104.00 | $142.1K | 48 | 1.3K |
| NVO | CALL | SWEEP | BULLISH | 03/15/24 | $110.00 | $115.5K | 1.6K | 196 |
| NVO | CALL | SWEEP | BULLISH | 01/19/24 | $105.00 | $103.8K | 5.3K | 295 |
| NVO | CALL | SWEEP | BULLISH | 03/15/24 | $110.00 | $96.0K | 1.6K | 799 |
| NVO | CALL | TRADE | BULLISH | 03/15/24 | $110.00 | $84.2K | 1.6K | 799 |
About Novo Nordisk
With roughly one third of the global branded diabetes treatment market, Novo Nordisk is the leading provider of diabetes-care products in the world. Based in Denmark, the company manufactures and markets a variety of human and modern insulins, injectable diabetes treatments such as GLP-1 therapy, oral antidiabetic agents, and obesity treatments. Novo also has a biopharmaceutical segment (constituting roughly 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.
In light of the recent options history for Novo Nordisk, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Novo Nordisk
- Currently trading with a volume of 1,550,186, the NVO's price is up by 1.89%, now at $105.21.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 68 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Novo Nordisk with Benzinga Pro for real-time alerts.
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