High-rolling investors have positioned themselves bearish 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 16 options trades for AbbVie. This is not a typical pattern.
The sentiment among these major traders is split, with 6% bullish and 93% bearish. Among all the options we identified, there was one put, amounting to $34,228, and 15 calls, totaling $1,688,382.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $70.0 to $190.0 for AbbVie during the past quarter.
Volume & Open Interest Development
In today's trading context, the average open interest for options of AbbVie stands at 1460.57, with a total volume reaching 1,764.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in AbbVie, situated within the strike price corridor from $70.0 to $190.0, throughout the last 30 days.
AbbVie 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ABBV | CALL | TRADE | NEUTRAL | 06/21/24 | $85.00 | $503.2K | 0 | 0 |
| ABBV | CALL | TRADE | BEARISH | 01/17/25 | $105.00 | $265.9K | 90 | 45 |
| ABBV | CALL | TRADE | BULLISH | 01/17/25 | $185.00 | $229.2K | 1.7K | 400 |
| ABBV | CALL | SWEEP | BEARISH | 01/17/25 | $160.00 | $211.6K | 2.6K | 133 |
| ABBV | CALL | SWEEP | BEARISH | 04/19/24 | $170.00 | $97.8K | 1.5K | 271 |
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.
After a thorough review of the options trading surrounding AbbVie, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of AbbVie
- Currently trading with a volume of 1,991,737, the ABBV's price is up by 0.31%, now at $162.73.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 21 days.
What The Experts Say On AbbVie
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $156.0.
- In a cautious move, an analyst from HSBC downgraded its rating to Hold, setting a price target of $156.
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 AbbVie, 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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