27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Financial giants have made a conspicuous bearish move on Amgen. Our analysis of options history for Amgen (NASDAQ:AMGN) revealed 18 unusual trades.
Delving into the details, we found 27% of traders were bullish, while 72% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $623,205, and 13 were calls, valued at $701,852.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $250.0 and $330.0 for Amgen, spanning the last 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 $250.0 to $330.0, over the past month.
Amgen 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AMGN | PUT | SWEEP | BEARISH | 01/17/25 | $320.00 | $282.6K | 813 | 0 |
| AMGN | PUT | SWEEP | BEARISH | 01/17/25 | $320.00 | $139.6K | 813 | 160 |
| AMGN | PUT | TRADE | BEARISH | 01/17/25 | $320.00 | $139.4K | 813 | 160 |
| AMGN | CALL | SWEEP | NEUTRAL | 01/17/25 | $330.00 | $111.1K | 597 | 53 |
| AMGN | CALL | SWEEP | BEARISH | 01/26/24 | $302.50 | $98.3K | 55 | 502 |
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 909,403, the price of AMGN is down by -0.18%, reaching $302.94.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 20 days from now.
Professional Analyst Ratings for Amgen
2 market experts have recently issued ratings for this stock, with a consensus target price of $323.0.
- In a positive move, an analyst from BMO Capital has upgraded their rating to Outperform and adjusted the price target to $326.
- An analyst from Daiwa Capital has elevated its stance to Buy, setting a new price target at $320.
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.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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