Whales with a lot of money to spend have taken a noticeably bearish stance on Amgen.
Looking at options history for Amgen AMGN we detected 20 trades.
If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 75% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $168,800 and 18, calls, for a total amount of $1,489,008.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $125.0 to $320.0 for Amgen during the past quarter.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Amgen stands at 729.79, with a total volume reaching 3,316.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Amgen, situated within the strike price corridor from $125.0 to $320.0, throughout the last 30 days.
Amgen Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AMGN | CALL | SWEEP | NEUTRAL | 01/17/25 | $300.00 | $225.7K | 1.0K | 73 |
| AMGN | PUT | SWEEP | BEARISH | 01/12/24 | $302.50 | $136.0K | 40 | 13 |
| AMGN | CALL | TRADE | BEARISH | 01/17/25 | $320.00 | $125.0K | 561 | 303 |
| AMGN | CALL | TRADE | BEARISH | 01/17/25 | $320.00 | $124.5K | 561 | 15 |
| AMGN | CALL | TRADE | BEARISH | 01/17/25 | $320.00 | $124.5K | 561 | 65 |
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.
Present Market Standing of Amgen
- Currently trading with a volume of 966,561, the AMGN's price is down by -0.38%, now at $302.01.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 25 days.
Professional Analyst Ratings for Amgen
In the last month, 3 experts released ratings on this stock with an average target price of $315.3333333333333.
- Showing optimism, an analyst from BMO Capital upgrades its rating to Outperform with a revised price target of $326.
- An analyst from RBC Capital upgraded its action to Outperform with a price target of $300.
- Showing optimism, an analyst from Daiwa Capital upgrades its rating to Buy with a revised 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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