Whales with a lot of money to spend have taken a noticeably bearish stance on Novo Nordisk.
Looking at options history for Novo Nordisk NVO we detected 28 trades.
If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 64% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $159,235 and 24, calls, for a total amount of $1,518,289.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $90.0 and $155.0 for Novo Nordisk, spanning the last three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Novo Nordisk options trades today is 893.0 with a total volume of 5,667.00.
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 $90.0 to $155.0 over the last 30 days.
Novo Nordisk 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 |
|---|---|---|---|---|---|---|---|---|
| NVO | CALL | SWEEP | BULLISH | 01/17/25 | $150.00 | $146.2K | 1.2K | 391 |
| NVO | CALL | SWEEP | BEARISH | 03/15/24 | $100.00 | $144.6K | 1.8K | 82 |
| NVO | CALL | TRADE | BULLISH | 07/19/24 | $110.00 | $133.0K | 532 | 103 |
| NVO | CALL | SWEEP | BEARISH | 02/09/24 | $115.00 | $92.3K | 1.2K | 306 |
| NVO | CALL | TRADE | BULLISH | 03/22/24 | $118.00 | $82.8K | 255 | 206 |
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.
Following our analysis of the options activities associated with Novo Nordisk, we pivot to a closer look at the company's own performance.
Novo Nordisk's Current Market Status
- With a volume of 4,722,085, the price of NVO is up 0.08% at $118.35.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 86 days.
Expert Opinions on Novo Nordisk
In the last month, 2 experts released ratings on this stock with an average target price of $130.0.
- An analyst from Morgan Stanley has revised its rating downward to Overweight, adjusting the price target to $120.
- Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Overweight rating on Novo Nordisk with a target price of $140.
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.
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