Spotlight on AbbVie: Analyzing the Surge in Options Activity

Investors with a lot of money to spend have taken a bullish stance on AbbVie ABBV.

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 ABBV, 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 24 uncommon options trades for AbbVie.

This isn't normal.

The overall sentiment of these big-money traders is split between 62% bullish and 29%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $453,669, and 17 are calls, for a total amount of $1,349,576.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $130.0 to $205.0 for AbbVie over the last 3 months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of AbbVie stands at 1079.89, with a total volume reaching 3,785.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in AbbVie, situated within the strike price corridor from $130.0 to $205.0, throughout the last 30 days.

AbbVie 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

About AbbVie

AbbVie is a pharmaceutical firm with a strong exposure to immunology (with Humira, Skyrizi, and Rinvoq) and oncology (with Imbruvica and Venclexta). The company was spun off from Abbott in early 2013. The 2020 acquisition of Allergan added several new products and drugs in aesthetics (including Botox).

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

Where Is AbbVie Standing Right Now?

• With a volume of 3,896,116, the price of ABBV is up 2.39% at $174.22.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 3 days.

What Analysts Are Saying About AbbVie

4 market experts have recently issued ratings for this stock, with a consensus target price of $214.75.

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 Goldman Sachs downgraded its action to Neutral with a price target of $194. * Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $210. * An analyst from Morgan Stanley persists with their Overweight rating on AbbVie, maintaining a target price of $241. * In a cautious move, an analyst from Guggenheim downgraded its rating to Buy, setting a price target of $214.

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 AbbVie, Benzinga Pro gives you real-time options trades alerts.