Someone with a lot of money to spend has taken a bearish stance on Horizon Therapeutics HZNP.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with HZNP, it often means somebody knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga's options scanner spotted 59 uncommon options trades for Horizon Therapeutics.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 69%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $2,042,600, and 56 are calls, for a total amount of $3,041,421.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $115.0 for Horizon Therapeutics over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Horizon Therapeutics's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Horizon Therapeutics's whale trades within a strike price range from $70.0 to $115.0 in the last 30 days.
Horizon Therapeutics Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| HZNP | PUT | TRADE | NEUTRAL | 01/20/23 | $90.00 | $1.1M | 258 | 2.5K |
| HZNP | PUT | TRADE | BEARISH | 02/17/23 | $85.00 | $840.0K | 3 | 0 |
| HZNP | CALL | TRADE | NEUTRAL | 01/20/23 | $85.00 | $144.4K | 1.9K | 231 |
| HZNP | CALL | TRADE | BEARISH | 01/20/23 | $85.00 | $142.5K | 1.9K | 104 |
| HZNP | CALL | TRADE | NEUTRAL | 01/20/23 | $85.00 | $134.9K | 1.9K | 483 |
Where Is Horizon Therapeutics Standing Right Now?
- With a volume of 3,711,277, the price of HZNP is up 28.19% at $100.96.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 90 days.
What The Experts Say On Horizon Therapeutics:
- SVB Leerink has decided to maintain their Outperform rating on Horizon Therapeutics, which currently sits at a price target of $88.
- HC Wainwright & Co. downgraded its action to Neutral with a price target of $74
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 Horizon Therapeutics, 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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