Investors with a lot of money to spend have taken a bullish stance on Vertex Pharmaceuticals VRTX.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with VRTX, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for Vertex Pharmaceuticals.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 25%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $181,030, and 4 are calls, for a total amount of $223,693.
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 $380.0 and $450.0 for Vertex Pharmaceuticals, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Vertex Pharmaceuticals stands at 61.86, with a total volume reaching 119.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Vertex Pharmaceuticals, situated within the strike price corridor from $380.0 to $450.0, throughout the last 30 days.
Vertex Pharmaceuticals Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| VRTX | CALL | TRADE | BEARISH | 09/20/24 | $26.4 | $24.7 | $25.0 | $410.00 | $125.0K | 7 | 52 |
| VRTX | PUT | TRADE | BULLISH | 01/17/25 | $56.6 | $54.0 | $54.0 | $450.00 | $75.6K | 98 | 0 |
| VRTX | PUT | TRADE | BULLISH | 01/17/25 | $28.9 | $27.0 | $27.0 | $400.00 | $43.2K | 232 | 25 |
| VRTX | CALL | TRADE | BEARISH | 06/14/24 | $5.2 | $3.0 | $3.0 | $435.00 | $41.1K | 0 | 0 |
| VRTX | CALL | SWEEP | NEUTRAL | 07/19/24 | $21.7 | $20.8 | $21.33 | $400.00 | $32.0K | 92 | 17 |
About Vertex Pharmaceuticals
Vertex Pharmaceuticals is a global biotechnology company that discovers and develops small-molecule drugs for the treatment of serious diseases. Its key drugs are Kalydeco, Orkambi, Symdeko, and Trikafta/Kaftrio for cystic fibrosis, where Vertex therapies remain the standard of care globally. Vertex has diversified its portfolio through Casgevy, a gene-editing therapy for beta thalassemia and sickle-cell disease. Additionally, Vertex is evaluating small-molecule inhibitors targeting acute and chronic pain using nonopioid treatments, and small-molecule inhibitors of APOL1-mediated kidney diseases. Vertex is also investigating cell therapies to deliver a potential functional cure for type 1 diabetes.
Where Is Vertex Pharmaceuticals Standing Right Now?
- With a volume of 374,195, the price of VRTX is up 0.2% at $401.9.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 0 days.
What Analysts Are Saying About Vertex Pharmaceuticals
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $437.4.
- An analyst from UBS has decided to maintain their Buy rating on Vertex Pharmaceuticals, which currently sits at a price target of $466.
- Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Sell rating for Vertex Pharmaceuticals, targeting a price of $371.
- An analyst from Guggenheim has decided to maintain their Buy rating on Vertex Pharmaceuticals, which currently sits at a price target of $450.
- An analyst from Evercore ISI Group has elevated its stance to Outperform, setting a new price target at $438.
- An analyst from HC Wainwright & Co. has decided to maintain their Buy rating on Vertex Pharmaceuticals, which currently sits at a price target of $462.
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 Vertex Pharmaceuticals, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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