Financial giants have made a conspicuous bullish move on Novo Nordisk. Our analysis of options history for Novo Nordisk NVO revealed 26 unusual trades.
Delving into the details, we found 61% of traders were bullish, while 38% showed bearish tendencies. Out of all the trades we spotted, 10 were puts, with a value of $1,362,610, and 16 were calls, valued at $832,150.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $80.0 to $175.0 for Novo Nordisk during the past quarter.
Volume & Open Interest Development
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 $80.0 to $175.0, over the past month.
Novo Nordisk 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NVO | PUT | TRADE | BULLISH | 09/20/24 | $175.00 | $358.2K | 20 | 79 |
| NVO | PUT | TRADE | BULLISH | 07/19/24 | $165.00 | $285.1K | 6 | 79 |
| NVO | PUT | TRADE | BULLISH | 06/21/24 | $165.00 | $284.7K | 169 | 0 |
| NVO | PUT | TRADE | BULLISH | 05/17/24 | $155.00 | $201.8K | 91 | 0 |
| NVO | CALL | SWEEP | BULLISH | 06/21/24 | $135.00 | $136.0K | 3.2K | 228 |
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.
Novo Nordisk's Current Market Status
- With a volume of 2,428,026, the price of NVO is up 0.49% at $129.4.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 38 days.
Professional Analyst Ratings for Novo Nordisk
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $160.0.
- 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 has revised its rating downward to Overweight, adjusting the price target to $160.
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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