Decoding AbbVie's Options Activity: What's the Big Picture?

Deep-pocketed investors have adopted a bullish 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 9 extraordinary options activities for AbbVie. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 55% leaning bullish and 33% bearish. Among these notable options, 3 are puts, totaling $123,498, and 6 are calls, amounting to $476,898.

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 $185.0 and $210.0 for AbbVie, spanning the last three months.

Volume & Open Interest Development

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 $185.0 to $210.0 over the preceding 30 days.

AbbVie Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

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).

After a thorough review of the options trading surrounding AbbVie, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

AbbVie's Current Market Status

• With a trading volume of 1,614,431, the price of ABBV is up by 0.86%, reaching $192.87.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 72 days from now.

What Analysts Are Saying About AbbVie

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $209.4.

• Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on AbbVie with a target price of $205.
• Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for AbbVie, targeting a price of $214.
• An analyst from Morgan Stanley has decided to maintain their Overweight rating on AbbVie, which currently sits at a price target of $218.
• In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $200.
• In a cautious move, an analyst from Truist Securities downgraded its rating to Buy, setting a price target of $210.

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 AbbVie, Benzinga Pro gives you real-time options trades alerts.