Financial giants have made a conspicuous bearish move on Amgen. Our analysis of options history for Amgen AMGN revealed 35 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 62% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $76,550, and 33 were calls, valued at $4,614,335.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $240.0 to $360.0 for Amgen over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Amgen options trades today is 520.29 with a total volume of 7,545.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Amgen's big money trades within a strike price range of $240.0 to $360.0 over the last 30 days.
Amgen Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AMGN | CALL | TRADE | BEARISH | 01/17/25 | $320.00 | $498.7K | 1.1K | 704 |
| AMGN | CALL | TRADE | BEARISH | 01/17/25 | $320.00 | $498.7K | 1.1K | 529 |
| AMGN | CALL | TRADE | BEARISH | 01/17/25 | $320.00 | $498.7K | 1.1K | 354 |
| AMGN | CALL | TRADE | BEARISH | 01/17/25 | $320.00 | $495.9K | 1.1K | 179 |
| AMGN | CALL | TRADE | BULLISH | 01/17/25 | $240.00 | $205.6K | 408 | 0 |
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.
Following our analysis of the options activities associated with Amgen, we pivot to a closer look at the company's own performance.
Current Position of Amgen
- Currently trading with a volume of 354,001, the AMGN's price is down by -0.9%, now at $308.07.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 21 days.
What Analysts Are Saying About 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 has elevated its stance to Outperform, setting a new price target at $300.
- An analyst from Daiwa Capital upgraded its action to Buy with a price target of $320.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Amgen with Benzinga Pro for real-time alerts.
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