High-rolling investors have positioned themselves bullish on AbbVie ABBV, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in ABBV often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 13 options trades for AbbVie. This is not a typical pattern.
The sentiment among these major traders is split, with 69% bullish and 30% bearish. Among all the options we identified, there was one put, amounting to $27,750, and 12 calls, totaling $3,904,925.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $110.0 to $155.0 for AbbVie over the recent three months.
Volume & Open Interest Trends
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 $110.0 to $155.0 in the last 30 days.
AbbVie Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ABBV | CALL | TRADE | BULLISH | 01/19/24 | $150.00 | $771.8K | 12.2K | 131 |
| ABBV | CALL | TRADE | BULLISH | 01/19/24 | $150.00 | $756.4K | 12.2K | 1.3K |
| ABBV | CALL | TRADE | BULLISH | 03/15/24 | $155.00 | $715.3K | 3.4K | 1.3K |
| ABBV | CALL | TRADE | BULLISH | 03/15/24 | $155.00 | $701.1K | 3.4K | 1.3K |
| ABBV | CALL | TRADE | BULLISH | 12/15/23 | $110.00 | $438.0K | 4.5K | 100 |
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.
Having examined the options trading patterns of AbbVie, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of AbbVie
- With a volume of 2,296,428, the price of ABBV is up 0.39% at $154.9.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 56 days.
Professional Analyst Ratings for AbbVie
In the last month, 2 experts released ratings on this stock with an average target price of $177.0.
- Maintaining their stance, an analyst from Raymond James continues to hold a Outperform rating for AbbVie, targeting a price of $181.
- An analyst from Goldman Sachs upgraded its action to Buy with a price target of $173.
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 AbbVie 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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