Financial giants have made a conspicuous bullish move on Novo Nordisk. Our analysis of options history for Novo Nordisk NVO revealed 14 unusual trades.
Delving into the details, we found 78% of traders were bullish, while 21% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $610,329, and 7 were calls, valued at $372,884.
What's The Price Target?
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 $160.0 for Novo Nordisk, spanning the last three months.
Volume & Open Interest Trends
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 $160.0, over the past month.
Novo Nordisk 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVO | PUT | TRADE | BULLISH | 06/21/24 | $3.3 | $3.2 | $3.2 | $130.00 | $256.0K | 2.1K | 977 |
| NVO | PUT | SWEEP | BULLISH | 06/21/24 | $5.95 | $5.8 | $5.8 | $135.00 | $154.8K | 716 | 286 |
| NVO | CALL | TRADE | BULLISH | 01/17/25 | $5.3 | $5.15 | $5.28 | $160.00 | $132.0K | 1.5K | 251 |
| NVO | CALL | SWEEP | BULLISH | 06/21/24 | $5.0 | $4.95 | $5.0 | $130.00 | $65.0K | 8.6K | 159 |
| NVO | PUT | SWEEP | BULLISH | 03/21/25 | $9.3 | $9.25 | $9.3 | $125.00 | $43.7K | 601 | 47 |
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 trading volume of 859,538, the price of NVO is down by -1.46%, reaching $131.1.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 83 days from now.
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 downgraded its action to Overweight with a price target of $160.
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 Novo Nordisk, Benzinga Pro gives you real-time options trades alerts.
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