Whales with a lot of money to spend have taken a noticeably bullish stance on Novo Nordisk.
Looking at options history for Novo Nordisk NVO we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 76% of the investors opened trades with bullish expectations and 23% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $668,300 and 5, calls, for a total amount of $193,506.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $100.0 to $185.0 for Novo Nordisk 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 Novo Nordisk's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Novo Nordisk's significant trades, within a strike price range of $100.0 to $185.0, over the past month.
Novo Nordisk Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NVO | PUT | TRADE | BULLISH | 05/17/24 | $160.00 | $204.7K | 0 | 0 |
| NVO | PUT | TRADE | BULLISH | 05/17/24 | $150.00 | $140.3K | 36 | 0 |
| NVO | PUT | TRADE | BULLISH | 07/19/24 | $185.00 | $54.0K | 1 | 0 |
| NVO | PUT | TRADE | BULLISH | 07/19/24 | $185.00 | $53.9K | 1 | 50 |
| NVO | PUT | TRADE | BULLISH | 07/19/24 | $185.00 | $53.9K | 1 | 10 |
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.
Present Market Standing of Novo Nordisk
- With a volume of 763,639, the price of NVO is down -0.26% at $132.02.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 45 days.
Expert Opinions on Novo Nordisk
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $150.0.
- An analyst from Cantor Fitzgerald has decided to maintain their Overweight rating on Novo Nordisk, which currently sits at a price target of $160.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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