Deep-pocketed investors have adopted a bearish approach towards Johnson & Johnson JNJ, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in JNJ usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Johnson & Johnson. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 55% bearish. Among these notable options, 3 are puts, totaling $115,300, and 6 are calls, amounting to $739,865.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $145.0 to $170.0 for Johnson & Johnson over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Johnson & Johnson options trades today is 2092.88 with a total volume of 3,026.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Johnson & Johnson's big money trades within a strike price range of $145.0 to $170.0 over the last 30 days.
Johnson & Johnson Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| JNJ | CALL | SWEEP | BEARISH | 06/21/24 | $160.00 | $440.6K | 6.4K | 901 |
| JNJ | CALL | SWEEP | BEARISH | 04/19/24 | $155.00 | $158.5K | 3.7K | 501 |
| JNJ | CALL | SWEEP | BEARISH | 05/17/24 | $170.00 | $52.9K | 42 | 627 |
| JNJ | PUT | TRADE | BULLISH | 09/20/24 | $155.00 | $52.0K | 158 | 100 |
| JNJ | CALL | SWEEP | BULLISH | 06/21/24 | $145.00 | $36.0K | 791 | 46 |
About Johnson & Johnson
Johnson & Johnson is the world's largest and most diverse healthcare firm. Three divisions make up the firm: pharmaceutical, medical devices and diagnostics, and consumer. The drug and device groups represent close to 80% of sales and drive the majority of cash flows for the firm. The drug division focuses on the following therapeutic areas: immunology, oncology, neurology, pulmonary, cardiology, and metabolic diseases. The device segment focuses on orthopedics, surgery tools, vision care, and a few smaller areas. The last segment of consumer focuses on baby care, beauty, oral care, over-the-counter drugs, and women's health. The consumer group is being divested in 2023 under the new name Kenvue. Geographically, just over half of total revenue is generated in the United States.
After a thorough review of the options trading surrounding Johnson & Johnson, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Johnson & Johnson
- With a volume of 4,139,263, the price of JNJ is up 0.14% at $156.77.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 56 days.
Professional Analyst Ratings for Johnson & Johnson
In the last month, 5 experts released ratings on this stock with an average target price of $199.0.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $215.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Johnson & Johnson, targeting a price of $169.
- An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $181.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $215.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $215.
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 Johnson & Johnson, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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