A Closer Look at Amgen's Options Market Dynamics

Whales with a lot of money to spend have taken a noticeably bearish stance on Amgen.

Looking at options history for Amgen AMGN we detected 28 trades.

If we consider the specifics of each trade, it is accurate to state that 42% of the investors opened trades with bullish expectations and 46% with bearish.

From the overall spotted trades, 16 are puts, for a total amount of $2,256,910 and 12, calls, for a total amount of $503,085.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $185.0 to $380.0 for Amgen over the recent three months.

Insights into 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 Amgen's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Amgen's significant trades, within a strike price range of $185.0 to $380.0, over the past month.

Amgen Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

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.

Amgen's Current Market Status

• With a volume of 1,450,738, the price of AMGN is down -1.49% at $314.9.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 7 days.

What The Experts Say On Amgen

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $348.2.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $405. * An analyst from Truist Securities has revised its rating downward to Hold, adjusting the price target to $333. * An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $405. * An analyst from Baird has revised its rating downward to Underperform, adjusting the price target to $215. * An analyst from TD Cowen has decided to maintain their Buy rating on Amgen, which currently sits at a price target of $383.

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