Deep-pocketed investors have adopted a bullish approach towards AbbVie ABBV, 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 ABBV usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 32 extraordinary options activities for AbbVie. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 68% leaning bullish and 31% bearish. Among these notable options, 2 are puts, totaling $76,950, and 30 are calls, amounting to $2,896,396.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $115.0 and $175.0 for AbbVie, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for AbbVie options trades today is 2041.57 with a total volume of 7,248.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for AbbVie's big money trades within a strike price range of $115.0 to $175.0 over 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 | BEARISH | 03/15/24 | $175.00 | $344.5K | 4.0K | 4 |
| ABBV | CALL | TRADE | BULLISH | 05/17/24 | $140.00 | $313.6K | 1.6K | 355 |
| ABBV | CALL | TRADE | BULLISH | 05/17/24 | $140.00 | $222.1K | 1.6K | 161 |
| ABBV | CALL | TRADE | BULLISH | 05/17/24 | $140.00 | $145.5K | 1.6K | 0 |
| ABBV | CALL | TRADE | BEARISH | 03/15/24 | $165.00 | $135.6K | 4.5K | 128 |
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
AbbVie's Current Market Status
- Trading volume stands at 2,650,301, with ABBV's price up by 0.3%, positioned at $161.94.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 28 days.
Professional Analyst Ratings for AbbVie
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $164.5.
- Reflecting concerns, an analyst from HSBC lowers its rating to Hold with a new price target of $156.
- 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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