Deep-pocketed investors have adopted a bullish approach towards Kenvue KVUE, 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 KVUE 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 Kenvue. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 80% leaning bullish and 20% bearish. Among these notable options, 2 are puts, totaling $86,350, and 8 are calls, amounting to $790,853.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $20.0 to $25.0 for Kenvue over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Kenvue stands at 42013.5, with a total volume reaching 17,869.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Kenvue, situated within the strike price corridor from $20.0 to $25.0, throughout the last 30 days.
Kenvue 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| KVUE | CALL | SWEEP | BULLISH | 02/16/24 | $21.00 | $217.7K | 96.5K | 1.9K |
| KVUE | CALL | SWEEP | BULLISH | 02/16/24 | $22.50 | $126.0K | 103.9K | 2.0K |
| KVUE | CALL | TRADE | BEARISH | 12/01/23 | $20.50 | $105.0K | 752 | 7.0K |
| KVUE | CALL | SWEEP | BULLISH | 12/01/23 | $20.50 | $88.1K | 752 | 0 |
| KVUE | CALL | SWEEP | BULLISH | 12/15/23 | $21.00 | $86.0K | 15.4K | 3.8K |
About Kenvue
Kenvue is the world's largest pure-play consumer health company by sales, generating $15 billion in annual revenue. Formerly known as Johnson & Johnson's consumer segment, Kenvue spun off and went public in May 2023. It operates in a variety of silos within consumer health, such as cough, cold and allergy care, pain management, face and body care, and oral care, as well as women's health. Its portfolio includes a wide array of some of the most well-known brands in the space, including Tylenol, Listerine, Johnson's, Aveeno, and Neutrogena. Despite playing in a fragmented industry with intense competition and ever-changing consumer preferences, many of Kenvue's brands are the global leader in their respective segment thanks to their strong brand power.
Having examined the options trading patterns of Kenvue, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Kenvue
- With a trading volume of 4,667,982, the price of KVUE is up by 2.12%, reaching $20.46.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 76 days from now.
Professional Analyst Ratings for Kenvue
1 market experts have recently issued ratings for this stock, with a consensus target price of $20.0.
- In a cautious move, an analyst from Piper Sandler downgraded its rating to Neutral, setting a price target of $20.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Kenvue options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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