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 Novo Nordisk. Our analysis of options history for Novo Nordisk (NYSE:NVO) revealed 15 unusual trades.
Delving into the details, we found 46% of traders were bullish, while 53% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $289,840, and 11 were calls, valued at $696,758.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $160.0 for Novo Nordisk over the last 3 months.
Insights into 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 Novo Nordisk'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 Novo Nordisk's whale activity within a strike price range from $100.0 to $160.0 in the last 30 days.
Novo Nordisk Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVO | CALL | SWEEP | BEARISH | 07/19/24 | $15.5 | $15.0 | $15.07 | $115.00 | $151.0K | 739 | 80 |
| NVO | PUT | TRADE | BULLISH | 05/17/24 | $16.1 | $15.85 | $15.85 | $140.00 | $137.8K | 104 | 0 |
| NVO | CALL | SWEEP | BEARISH | 07/19/24 | $15.85 | $15.0 | $15.05 | $115.00 | $105.4K | 739 | 80 |
| NVO | PUT | TRADE | BEARISH | 07/19/24 | $12.3 | $12.15 | $12.3 | $135.00 | $87.3K | 1.2K | 71 |
| NVO | CALL | TRADE | BEARISH | 09/20/24 | $8.05 | $8.0 | $8.0 | $135.00 | $80.0K | 1.6K | 131 |
About Novo Nordisk
With roughly one third of the global branded diabetes treatment market, Novo Nordisk is the leading provider of diabetes-care products in the world. Based in Denmark, the company manufactures and markets a variety of human and modern insulins, injectable diabetes treatments such as GLP-1 therapy, oral antidiabetic agents, and obesity treatments. Novo also has a biopharmaceutical segment (constituting roughly 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.
Following our analysis of the options activities associated with Novo Nordisk, we pivot to a closer look at the company's own performance.
Current Position of Novo Nordisk
- Trading volume stands at 1,730,394, with NVO's price down by -2.2%, positioned at $124.65.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 23 days.
Expert Opinions on Novo Nordisk
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $160.0.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $160.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $160.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $160.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Novo Nordisk options trades with real-time alerts from Benzinga Pro.
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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