Financial giants have made a conspicuous bearish move on Biogen. Our analysis of options history for Biogen BIIB revealed 12 unusual trades.
Delving into the details, we found 25% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 10 were puts, with a value of $307,864, and 2 were calls, valued at $62,250.
Expected Price Movements
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 $185.0 for Biogen during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Biogen options trades today is 215.75 with a total volume of 4,319.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Biogen's big money trades within a strike price range of $100.0 to $185.0 over the last 30 days.
Biogen Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BIIB | PUT | TRADE | BEARISH | 01/17/25 | $28.4 | $22.7 | $27.2 | $185.00 | $35.3K | 443 | 13 |
| BIIB | PUT | SWEEP | BEARISH | 04/17/25 | $15.7 | $15.6 | $15.6 | $160.00 | $34.3K | 335 | 99 |
| BIIB | PUT | TRADE | BULLISH | 04/17/25 | $15.6 | $15.5 | $15.5 | $160.00 | $34.1K | 335 | 422 |
| BIIB | CALL | SWEEP | BULLISH | 04/17/25 | $11.5 | $11.4 | $11.5 | $170.00 | $33.3K | 83 | 52 |
| BIIB | PUT | SWEEP | BEARISH | 04/17/25 | $15.7 | $15.0 | $15.7 | $160.00 | $33.0K | 335 | 231 |
About Biogen
Biogen and Idec merged in 2003, combining forces to market Biogen's multiple sclerosis drug Avonex and Idec's cancer drug Rituxan. Today, Rituxan and next-generation antibody Gazyva (oncology) and Ocrevus (multiple sclerosis) are marketed via a collaboration with Roche. Biogen markets several multiple sclerosis drugs including Plegridy, Tysabri, Tecfidera, and Vumerity. Biogen's newer products include Spinraza (SMA, with partner Ionis), Leqembi (Alzheimers, with partner Eisai), Skyclarys (Friedreich's Ataxia, Reata), Zurzuvae (postpartum depression, Sage), and Qalsody (ALS, Ionis). Biogen has several drug candidates in phase 3 trials in neurology, immunology, and rare diseases.
Having examined the options trading patterns of Biogen, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Biogen
- Trading volume stands at 594,099, with BIIB's price up by 0.47%, positioned at $159.45.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 77 days.
Professional Analyst Ratings for Biogen
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $229.4.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Citigroup has revised its rating downward to Neutral, adjusting the price target to $190. * In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $270. * An analyst from JP Morgan has decided to maintain their Neutral rating on Biogen, which currently sits at a price target of $210. * Consistent in their evaluation, an analyst from Mizuho keeps a Outperform rating on Biogen with a target price of $207. * An analyst from Needham has revised its rating downward to Hold, adjusting the price target to $270.
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 Biogen with Benzinga Pro for real-time alerts.
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