Amgen Options Traders Betting On Stock Rising This Much By April Expiration

Within the next month, Amgen Inc. AMGN is expected to report quarterly earnings at $4 per share on revenue of $6.26 billion, analysts say.

On CNBC’s "Options Action," Kelly Intelligence's Kevin Kelly said there were 1.84x more calls than puts on Amgen on Wednesday.

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There was a buyer of 125 of the April 245-calls at an average price of $2.30 per contract, Kelly explained, adding that Amgen’s stock will gain at least 3% by April expiration.

Amgen recently announced plans to cut 450 jobs, or lower than 2% of its workforce. As of Dec. 31, 2022, the Thousand Oaks, California-based company had approximately 25,200 employees in over 50 countries.

Price Action: Amgen shares gained 1.1% to settle at $241.03 on Wednesday and added 0.3% in after-hours trading session.

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