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 9 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 55% leaning bullish and 44% bearish. Among these notable options, 2 are puts, totaling $97,500, and 7 are calls, amounting to $332,890.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $100.0 to $150.0 for Novo Nordisk during the past quarter.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Novo Nordisk stands at 1988.56, with a total volume reaching 2,194.00. 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 $100.0 to $150.0, throughout the last 30 days.
Novo Nordisk Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVO | CALL | SWEEP | BULLISH | 09/20/24 | $3.75 | $3.7 | $3.7 | $140.00 | $84.3K | 8.6K | 255 |
| NVO | CALL | TRADE | BULLISH | 01/16/26 | $46.0 | $45.05 | $46.0 | $100.00 | $69.0K | 770 | 16 |
| NVO | CALL | TRADE | BEARISH | 01/16/26 | $28.4 | $25.35 | $26.1 | $130.00 | $54.8K | 700 | 0 |
| NVO | PUT | SWEEP | BEARISH | 08/23/24 | $1.08 | $0.77 | $1.08 | $132.00 | $54.0K | 552 | 500 |
| NVO | PUT | TRADE | BULLISH | 12/20/24 | $14.75 | $14.5 | $14.5 | $145.00 | $43.5K | 106 | 30 |
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.
After a thorough review of the options trading surrounding Novo Nordisk, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Novo Nordisk's Current Market Status
- Trading volume stands at 1,297,641, with NVO's price up by 2.03%, positioned at $137.15.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 77 days.
Professional Analyst Ratings for Novo Nordisk
In the last month, 2 experts released ratings on this stock with an average target price of $160.0.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $160.
- Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on Novo Nordisk with a target price of $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.
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