Deep-pocketed investors have adopted a bullish approach towards Amgen AMGN, 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 AMGN 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 Amgen. 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 $302,209, and 6 are calls, amounting to $191,492.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $240.0 and $320.0 for Amgen, spanning the last three months.
Analyzing 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 Amgen'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 Amgen's whale activity within a strike price range from $240.0 to $320.0 in the last 30 days.
Amgen Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMGN | PUT | SWEEP | BEARISH | 08/16/24 | $24.6 | $24.35 | $24.6 | $300.00 | $221.4K | 67 | 112 |
| AMGN | CALL | TRADE | BULLISH | 04/05/24 | $11.7 | $11.15 | $11.7 | $277.50 | $43.2K | 58 | 1 |
| AMGN | PUT | SWEEP | BEARISH | 07/19/24 | $13.85 | $13.8 | $13.85 | $285.00 | $42.9K | 314 | 33 |
| AMGN | CALL | SWEEP | BULLISH | 01/17/25 | $15.0 | $14.1 | $15.0 | $320.00 | $39.0K | 3.0K | 26 |
| AMGN | PUT | SWEEP | BULLISH | 09/20/24 | $20.2 | $19.85 | $20.0 | $290.00 | $37.8K | 110 | 36 |
About Amgen
Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). The 2023 Horizon acquisition brings several rare disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.
Having examined the options trading patterns of Amgen, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Amgen Standing Right Now?
- With a volume of 481,114, the price of AMGN is down -0.14% at $285.91.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 28 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Amgen with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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