Whales with a lot of money to spend have taken a noticeably bearish stance on Novo Nordisk.
Looking at options history for Novo Nordisk NVO we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 20% of the investors opened trades with bullish expectations and 80% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $200,758 and 7, calls, for a total amount of $541,054.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $115.0 for Novo Nordisk over the last 3 months.
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 Novo Nordisk's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Novo Nordisk's significant trades, within a strike price range of $50.0 to $115.0, over the past month.
Novo Nordisk Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NVO | CALL | TRADE | BEARISH | 01/12/24 | $106.00 | $260.0K | 34 | 2.0K |
| NVO | PUT | SWEEP | BEARISH | 01/17/25 | $115.00 | $102.6K | 14 | 38 |
| NVO | CALL | SWEEP | BEARISH | 01/19/24 | $105.00 | $73.5K | 8.8K | 45 |
| NVO | CALL | TRADE | BULLISH | 01/17/25 | $50.00 | $61.0K | 65 | 0 |
| NVO | PUT | TRADE | BEARISH | 01/17/25 | $115.00 | $59.0K | 14 | 1 |
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.
Current Position of Novo Nordisk
- Currently trading with a volume of 730,672, the NVO's price is down by -0.06%, now at $102.62.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 35 days.
Expert Opinions on Novo Nordisk
2 market experts have recently issued ratings for this stock, with a consensus target price of $117.5.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $120.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Outperform rating on Novo Nordisk with a target price of $115.
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 Novo Nordisk, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
