Financial giants have made a conspicuous bullish move on Novo Nordisk. Our analysis of options history for Novo Nordisk NVO revealed 10 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $114,660, and 8 were calls, valued at $486,192.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $92.5 to $110.0 for Novo Nordisk during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Novo Nordisk options trades today is 1593.0 with a total volume of 2,563.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Novo Nordisk's big money trades within a strike price range of $92.5 to $110.0 over the last 30 days.
Novo Nordisk Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NVO | CALL | SWEEP | BULLISH | 03/15/24 | $110.00 | $127.4K | 1.0K | 268 |
| NVO | CALL | SWEEP | BEARISH | 01/19/24 | $105.00 | $88.0K | 5.3K | 216 |
| NVO | PUT | SWEEP | BULLISH | 01/19/24 | $95.00 | $74.2K | 1.3K | 592 |
| NVO | CALL | TRADE | BULLISH | 03/15/24 | $110.00 | $54.4K | 1.0K | 518 |
| NVO | CALL | TRADE | BEARISH | 03/15/24 | $105.00 | $50.7K | 853 | 76 |
About Novo Nordisk
With roughly one third of the global branded diabetes treatment market, Novo Nordisk is the leading provider of diabetes-care products in the world. Based in Denmark, the company manufactures and markets a variety of human and modern insulins, injectable diabetes treatments such as GLP-1 therapy, oral antidiabetic agents, and obesity treatments. Novo also has a biopharmaceutical segment (constituting roughly 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.
In light of the recent options history for Novo Nordisk, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Novo Nordisk
- With a trading volume of 2,749,459, the price of NVO is up by 1.4%, reaching $102.81.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 72 days from now.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Novo Nordisk options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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