Deep-pocketed investors have adopted a bullish approach towards Novo Nordisk NVO, 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 NVO usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for Novo Nordisk. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 46% leaning bullish and 46% bearish. Among these notable options, 7 are puts, totaling $538,503, and 8 are calls, amounting to $580,397.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $110.0 to $150.0 for Novo Nordisk over the recent three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Novo Nordisk stands at 656.29, with a total volume reaching 1,904.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Novo Nordisk, situated within the strike price corridor from $110.0 to $150.0, throughout the last 30 days.
Novo Nordisk Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVO | PUT | SWEEP | BEARISH | 08/16/24 | $11.5 | $10.05 | $10.05 | $138.00 | $214.9K | 137 | 291 |
| NVO | CALL | SWEEP | BEARISH | 03/21/25 | $28.75 | $28.6 | $28.6 | $110.00 | $143.0K | 159 | 51 |
| NVO | CALL | SWEEP | BEARISH | 12/20/24 | $5.35 | $5.3 | $5.3 | $150.00 | $106.0K | 983 | 206 |
| NVO | CALL | SWEEP | BULLISH | 03/21/25 | $21.35 | $21.25 | $21.35 | $120.00 | $100.3K | 97 | 50 |
| NVO | PUT | SWEEP | BULLISH | 09/20/24 | $9.95 | $9.85 | $9.95 | $135.00 | $78.6K | 1.7K | 87 |
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.
Where Is Novo Nordisk Standing Right Now?
- Currently trading with a volume of 2,201,233, the NVO's price is up by 3.24%, now at $130.08.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 1 days.
What Analysts Are Saying About Novo Nordisk
1 market experts have recently issued ratings for this stock, with a consensus target price of $160.0.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $160.
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 Novo Nordisk with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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