Illumina Unusual Options Activity

Investors with significant funds have taken a bullish position in Illumina ILMN, a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in ILMN usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 8 options transactions for Illumina. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 62% being bullish and 25% bearish. Of all the options we discovered, 7 are puts, valued at $381,330, and there was a single call, worth $116,000.

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 $85.0 to $135.0 for Illumina over the last 3 months.

Analyzing Volume & Open Interest

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 Illumina'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 Illumina's whale activity within a strike price range from $85.0 to $135.0 in the last 30 days.

Illumina Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Illumina

Illumina provides tools and services to analyze genetic material with life science and clinical lab applications. The company generates over 90% of its revenue from sequencing instruments, consumables, and services. Illumina's high-throughput technology enables whole genome sequencing in humans and other large organisms. Its lower throughput tools enable applications that require smaller data outputs, such as viral and cancer tumor screening. Illumina also sells microarrays (9% of 2024 sales) that enable lower-cost, focused genetic screening with primarily consumer and agricultural applications.

Having examined the options trading patterns of Illumina, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Illumina Standing Right Now?

• With a trading volume of 2,177,576, the price of ILMN is up by 2.93%, reaching $88.48.
• Current RSI values indicate that the stock is may be oversold.
• Next earnings report is scheduled for 51 days from now.

Professional Analyst Ratings for Illumina

In the last month, 5 experts released ratings on this stock with an average target price of $130.2.

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 Barclays downgraded its action to Underweight with a price target of $100. * An analyst from Canaccord Genuity persists with their Hold rating on Illumina, maintaining a target price of $115. * An analyst from Piper Sandler persists with their Overweight rating on Illumina, maintaining a target price of $190. * Maintaining their stance, an analyst from Baird continues to hold a Neutral rating for Illumina, targeting a price of $90. * In a cautious move, an analyst from Stephens & Co. downgraded its rating to Overweight, setting a price target of $156.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Illumina, Benzinga Pro gives you real-time options trades alerts.