High-rolling investors have positioned themselves bullish on Novo Nordisk NVO, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in NVO often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Novo Nordisk. This is not a typical pattern.
The sentiment among these major traders is split, with 66% bullish and 11% bearish. Among all the options we identified, there was one put, amounting to $26,390, and 8 calls, totaling $868,304.
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 $100.0 and $145.0 for Novo Nordisk, spanning the last three months.
Analyzing Volume & Open Interest
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 $145.0, over the past month.
Novo Nordisk Option Activity Analysis: 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 | CALL | TRADE | BULLISH | 09/27/24 | $4.9 | $4.0 | $4.7 | $140.00 | $493.5K | 103 | 2 |
| NVO | CALL | TRADE | BULLISH | 03/21/25 | $33.85 | $33.65 | $33.85 | $110.00 | $101.5K | 187 | 31 |
| NVO | CALL | SWEEP | BULLISH | 09/13/24 | $3.95 | $3.75 | $3.95 | $138.00 | $99.9K | 694 | 302 |
| NVO | CALL | SWEEP | BULLISH | 09/20/24 | $2.11 | $2.09 | $2.1 | $145.00 | $41.8K | 7.9K | 208 |
| NVO | CALL | TRADE | NEUTRAL | 11/15/24 | $40.65 | $38.65 | $39.56 | $100.00 | $39.5K | 6 | 10 |
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.
Current Position of Novo Nordisk
- Currently trading with a volume of 1,216,126, the NVO's price is up by 1.77%, now at $137.34.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 70 days.
Expert Opinions on Novo Nordisk
3 market experts have recently issued ratings for this stock, with a consensus target price of $160.0.
- Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on Novo Nordisk with a target price of $160.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $160.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target 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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