Unpacking the Latest Options Trading Trends in Walgreens Boots Alliance

Deep-pocketed investors have adopted a bullish approach towards Walgreens Boots Alliance WBA, 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 WBA usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Walgreens Boots Alliance. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 3 are puts, totaling $117,441, and 5 are calls, amounting to $262,192.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $9.0 to $12.5 for Walgreens Boots Alliance over the recent three months.

Volume & Open Interest Trends

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Walgreens Boots Alliance's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Walgreens Boots Alliance's whale activity within a strike price range from $9.0 to $12.5 in the last 30 days.

Walgreens Boots Alliance Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

About Walgreens Boots Alliance

Walgreens Boots Alliance is one of the largest retail pharmacy chains in the US, with over 8,500 locations. Nearly three quarters of Americans live within five miles of a Walgreens location. Roughly two thirds of revenue is generated from prescription drug sales; Walgreens makes up 20% of total prescription revenue in the US. Walgreens also generates sales from retail products (general wellness consumables and its own branded merchandise), European drug wholesale, and healthcare. With more locations incorporating additional services like Health Corner and Village Medical, Walgreens creates an omnichannel experience for patients and positions itself as a one-stop healthcare provider.

Following our analysis of the options activities associated with Walgreens Boots Alliance, we pivot to a closer look at the company's own performance.

Present Market Standing of Walgreens Boots Alliance

• Currently trading with a volume of 4,952,381, the WBA's price is up by 3.34%, now at $9.13.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 32 days.

Professional Analyst Ratings for Walgreens Boots Alliance

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $12.833333333333334.

• Consistent in their evaluation, an analyst from TD Cowen keeps a Buy rating on Walgreens Boots Alliance with a target price of $16.
• Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Walgreens Boots Alliance with a target price of $15.
• Consistent in their evaluation, an analyst from B of A Securities keeps a Underperform rating on Walgreens Boots Alliance with a target price of $7.

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 Walgreens Boots Alliance options trades with real-time alerts from Benzinga Pro.