Financial giants have made a conspicuous bearish move on Novo Nordisk. Our analysis of options history for Novo Nordisk NVO revealed 10 unusual trades.
Delving into the details, we found 30% of traders were bullish, while 70% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $88,487, and 7 were calls, valued at $365,580.
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 $100.0 and $145.0 for Novo Nordisk, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Novo Nordisk options trades today is 1083.25 with a total volume of 720.00.
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 $100.0 to $145.0 over the last 30 days.
Novo Nordisk Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVO | CALL | SWEEP | BEARISH | 09/20/24 | $17.25 | $17.05 | $17.05 | $120.00 | $178.5K | 1.1K | 132 |
| NVO | CALL | TRADE | BULLISH | 01/17/25 | $37.4 | $37.2 | $37.4 | $100.00 | $37.4K | 1.7K | 15 |
| NVO | CALL | TRADE | BEARISH | 09/20/24 | $18.15 | $17.9 | $17.9 | $120.00 | $35.8K | 1.1K | 26 |
| NVO | PUT | SWEEP | BEARISH | 06/21/24 | $9.0 | $8.9 | $9.0 | $140.00 | $31.4K | 496 | 37 |
| NVO | PUT | SWEEP | BEARISH | 06/21/24 | $9.05 | $8.9 | $8.95 | $140.00 | $31.4K | 496 | 37 |
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.
Where Is Novo Nordisk Standing Right Now?
- Trading volume stands at 1,844,849, with NVO's price up by 0.06%, positioned at $132.49.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 86 days.
What The Experts Say On Novo Nordisk
A total of 1 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 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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