Deep-pocketed investors have adopted a bullish approach towards Novartis NVS, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NVS usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Novartis. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 77% leaning bullish and 22% bearish. Among these notable options, 3 are puts, totaling $189,724, and 6 are calls, amounting to $263,350.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $95.0 to $115.0 for Novartis over the last 3 months.
Analyzing Volume & Open Interest
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 Novartis'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 Novartis's whale trades within a strike price range from $95.0 to $115.0 in the last 30 days.
Novartis Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NVS | CALL | SWEEP | BULLISH | 01/17/25 | $97.50 | $74.5K | 12 | 98 |
| NVS | PUT | SWEEP | BULLISH | 01/17/25 | $115.00 | $68.9K | 7 | 1 |
| NVS | PUT | SWEEP | BULLISH | 01/17/25 | $115.00 | $61.9K | 7 | 102 |
| NVS | CALL | SWEEP | BULLISH | 01/17/25 | $97.50 | $59.4K | 12 | 44 |
| NVS | PUT | SWEEP | BULLISH | 01/17/25 | $110.00 | $58.9K | 341 | 62 |
About Novartis
Novartis develops and manufactures innovative drugs. The firm's key areas of drug development include oncology, rare diseases, neuroscience, immunology, respiratory, cardio-metabolic, and established medicines. The company sells its products globally, with the United States representing close to one third of total revenue.
Having examined the options trading patterns of Novartis, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Novartis
- Currently trading with a volume of 636,546, the NVS's price is up by 0.09%, now at $104.91.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 27 days.
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 Novartis, 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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