Financial giants have made a conspicuous bearish move on Amgen. Our analysis of options history for Amgen AMGN revealed 13 unusual trades.
Delving into the details, we found 15% of traders were bullish, while 84% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $121,372, and 11 were calls, valued at $395,683.
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 $270.0 to $290.0 for Amgen during the past quarter.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Amgen's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Amgen's significant trades, within a strike price range of $270.0 to $290.0, over the past month.
Amgen 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 |
|---|---|---|---|---|---|---|---|---|
| AMGN | PUT | SWEEP | NEUTRAL | 01/17/25 | $270.00 | $86.1K | 1.9K | 77 |
| AMGN | CALL | SWEEP | NEUTRAL | 01/17/25 | $290.00 | $70.2K | 563 | 110 |
| AMGN | CALL | SWEEP | BEARISH | 01/17/25 | $290.00 | $51.2K | 563 | 20 |
| AMGN | CALL | TRADE | BEARISH | 01/19/24 | $270.00 | $36.7K | 1.1K | 30 |
| AMGN | PUT | SWEEP | BULLISH | 01/17/25 | $270.00 | $35.2K | 1.9K | 196 |
About Amgen
Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). The 2023 Horizon acquisition brings several rare disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.
Amgen's Current Market Status
- With a volume of 593,270, the price of AMGN is down -0.76% at $279.47.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 47 days.
Professional Analyst Ratings for Amgen
2 market experts have recently issued ratings for this stock, with a consensus target price of $310.0.
- An analyst from RBC Capital has elevated its stance to Outperform, setting a new price target at $300.
- An analyst from Truist Securities downgraded its action to Buy with a price target of $320.
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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