A Closer Look at Johnson & Johnson's Options Market Dynamics

Deep-pocketed investors have adopted a bearish approach towards Johnson & Johnson JNJ, 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 JNJ usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Johnson & Johnson. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 12% leaning bullish and 87% bearish. Among these notable options, 2 are puts, totaling $56,135, and 6 are calls, amounting to $202,905.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $160.0 to $190.0 for Johnson & Johnson over the last 3 months.

Insights into Volume & Open Interest

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 Johnson & Johnson'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 Johnson & Johnson's whale activity within a strike price range from $160.0 to $190.0 in the last 30 days.

Johnson & Johnson Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About Johnson & Johnson

Johnson & Johnson is the world's largest and most diverse healthcare firm. Three divisions make up the firm: pharmaceutical, medical devices and diagnostics, and consumer. The drug and device groups represent close to 80% of sales and drive the majority of cash flows for the firm. The drug division focuses on the following therapeutic areas: immunology, oncology, neurology, pulmonary, cardiology, and metabolic diseases. The device segment focuses on orthopedics, surgery tools, vision care, and a few smaller areas. The last segment of consumer focuses on baby care, beauty, oral care, over-the-counter drugs, and women's health. The consumer group is being divested in 2023 under the new name Kenvue. Geographically, just over half of total revenue is generated in the United States.

Following our analysis of the options activities associated with Johnson & Johnson, we pivot to a closer look at the company's own performance.

Current Position of Johnson & Johnson

• With a volume of 1,040,017, the price of JNJ is up 0.02% at $161.67.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 13 days.

What The Experts Say On Johnson & Johnson

3 market experts have recently issued ratings for this stock, with a consensus target price of $184.33333333333334.

• In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $215.
• Consistent in their evaluation, an analyst from Raymond James keeps a Outperform rating on Johnson & Johnson with a target price of $175.
• Reflecting concerns, an analyst from Wells Fargo lowers its rating to Equal-Weight with a new price target of $163.

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