Investors with a lot of money to spend have taken a bearish stance on Kenvue KVUE.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with KVUE, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 12 options trades for Kenvue.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $101,100, and 11, calls, for a total amount of $1,174,864.
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 $20.0 to $25.0 for Kenvue during the past quarter.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Kenvue's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Kenvue's significant trades, within a strike price range of $20.0 to $25.0, over the past month.
Kenvue Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| KVUE | CALL | TRADE | BULLISH | 02/16/24 | $22.50 | $651.2K | 96.7K | 9.4K |
| KVUE | PUT | SWEEP | BULLISH | 02/16/24 | $20.00 | $101.0K | 17.4K | 1.0K |
| KVUE | CALL | SWEEP | BULLISH | 02/16/24 | $25.00 | $98.9K | 59.1K | 9.3K |
| KVUE | CALL | SWEEP | BEARISH | 02/16/24 | $25.00 | $91.2K | 59.1K | 9.3K |
| KVUE | CALL | SWEEP | BEARISH | 02/16/24 | $25.00 | $72.4K | 59.1K | 4.1K |
About Kenvue
Kenvue is the world's largest pure-play consumer health company by sales, generating $15 billion in annual revenue. Formerly known as Johnson & Johnson's consumer segment, Kenvue spun off and went public in May 2023. It operates in a variety of silos within consumer health, such as cough, cold and allergy care, pain management, face and body care, and oral care, as well as women's health. Its portfolio includes a wide array of some of the most well-known brands in the space, including Tylenol, Listerine, Johnson's, Aveeno, and Neutrogena. Despite playing in a fragmented industry with intense competition and ever-changing consumer preferences, many of Kenvue's brands are the global leader in their respective segment thanks to their strong brand power.
Current Position of Kenvue
- Currently trading with a volume of 6,764,494, the KVUE's price is down by -0.34%, now at $20.55.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 65 days.
Expert Opinions on Kenvue
1 market experts have recently issued ratings for this stock, with a consensus target price of $20.0.
- An analyst from Piper Sandler downgraded its action to Neutral with a price target of $20.
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 Kenvue, 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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