Investors with a lot of money to spend have taken a bullish stance on Amgen AMGN.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AMGN, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 16 uncommon options trades for Amgen.
This isn't normal.
The overall sentiment of these big-money traders is split between 43% bullish and 43%, bearish.
Out of all of the special options we uncovered, 10 are puts, for a total amount of $1,298,955, and 6 are calls, for a total amount of $312,382.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $145.0 to $390.0 for Amgen over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Amgen stands at 388.45, with a total volume reaching 3,084.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Amgen, situated within the strike price corridor from $145.0 to $390.0, throughout the last 30 days.
Amgen Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMGN | PUT | TRADE | BULLISH | 12/20/24 | $20.5 | $19.95 | $20.03 | $330.00 | $801.2K | 590 | 0 |
| AMGN | PUT | SWEEP | BEARISH | 12/20/24 | $20.15 | $20.0 | $20.05 | $330.00 | $188.3K | 590 | 538 |
| AMGN | CALL | TRADE | NEUTRAL | 01/17/25 | $190.8 | $186.9 | $188.7 | $145.00 | $132.0K | 40 | 7 |
| AMGN | CALL | SWEEP | BULLISH | 11/15/24 | $7.85 | $6.85 | $7.3 | $360.00 | $70.0K | 109 | 96 |
| AMGN | PUT | SWEEP | BEARISH | 09/27/24 | $4.1 | $3.8 | $4.1 | $335.00 | $52.4K | 235 | 265 |
About Amgen
Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). The 2023 Horizon acquisition brings several rare-disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.
Present Market Standing of Amgen
- With a trading volume of 737,520, the price of AMGN is down by -0.96%, reaching $332.39.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 35 days from now.
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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 Amgen with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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