Biogen Unusual Options Activity

Someone with a lot of money to spend has taken a bullish stance on Biogen BIIB.

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 BIIB, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 14 options trades for Biogen.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $86,627, and 13, calls, for a total amount of $607,624..

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 $200.0 to $350.0 for Biogen over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Biogen'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 Biogen's whale activity within a strike price range from $200.0 to $350.0 in the last 30 days.

Biogen Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Biogen Standing Right Now?

• With a volume of 423,928, the price of BIIB is up 0.71% at $276.65.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 4 days.

What The Experts Say On Biogen:

• RBC Capital has decided to maintain their Outperform rating on Biogen, which currently sits at a price target of $341.
• Morgan Stanley has decided to maintain their Overweight rating on Biogen, which currently sits at a price target of $355.
• Needham downgraded its action to Buy with a price target of $321
• HC Wainwright & Co. downgraded its action to Buy with a price target of $325

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 Biogen, Benzinga Pro gives you real-time options trades alerts.