Deep-pocketed investors have adopted a bearish approach towards AbbVie ABBV, 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 ABBV usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for AbbVie. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 10% leaning bullish and 80% bearish. Among these notable options, 3 are puts, totaling $117,333, and 7 are calls, amounting to $585,288.
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 $135.0 and $180.0 for AbbVie, spanning the last three months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in AbbVie's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to AbbVie's substantial trades, within a strike price spectrum from $135.0 to $180.0 over the preceding 30 days.
AbbVie Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ABBV | CALL | SWEEP | BEARISH | 01/17/25 | $11.05 | $10.3 | $10.35 | $165.00 | $333.3K | 3.1K | 55 |
| ABBV | CALL | TRADE | BEARISH | 01/17/25 | $11.75 | $11.5 | $11.5 | $165.00 | $57.5K | 3.1K | 0 |
| ABBV | PUT | SWEEP | BULLISH | 07/12/24 | $0.61 | $0.6 | $0.6 | $160.00 | $51.4K | 36 | 32 |
| ABBV | CALL | SWEEP | BEARISH | 11/15/24 | $3.45 | $3.35 | $3.35 | $180.00 | $47.9K | 966 | 0 |
| ABBV | CALL | TRADE | BEARISH | 08/16/24 | $4.55 | $4.4 | $4.45 | $165.00 | $44.5K | 988 | 2 |
About AbbVie
AbbVie is a pharmaceutical firm with a strong exposure to immunology (with Humira, Skyrizi, and Rinvoq) and oncology (with Imbruvica and Venclexta). The company was spun off from Abbott in early 2013. The 2020 acquisition of Allergan added several new products and drugs in aesthetics (including Botox).
Following our analysis of the options activities associated with AbbVie, we pivot to a closer look at the company's own performance.
Current Position of AbbVie
- Trading volume stands at 1,831,744, with ABBV's price down by -1.26%, positioned at $163.87.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 22 days.
Expert Opinions on AbbVie
4 market experts have recently issued ratings for this stock, with a consensus target price of $191.25.
- An analyst from Piper Sandler persists with their Overweight rating on AbbVie, maintaining a target price of $190.
- An analyst from HSBC has elevated its stance to Buy, setting a new price target at $185.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $200.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for AbbVie, targeting a price of $190.
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 AbbVie 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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