Whales with a lot of money to spend have taken a noticeably bearish stance on Novo Nordisk.
Looking at options history for Novo Nordisk NVO we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 69% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $111,064 and 10, calls, for a total amount of $556,217.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $95.0 and $145.0 for Novo Nordisk, spanning the last three months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Novo Nordisk's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Novo Nordisk's substantial trades, within a strike price spectrum from $95.0 to $145.0 over the preceding 30 days.
Novo Nordisk 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NVO | CALL | SWEEP | BULLISH | 06/21/24 | $125.00 | $112.3K | 1.4K | 40 |
| NVO | CALL | SWEEP | BULLISH | 03/15/24 | $124.00 | $84.1K | 264 | 10 |
| NVO | CALL | TRADE | BEARISH | 04/19/24 | $115.00 | $72.4K | 362 | 0 |
| NVO | CALL | TRADE | BEARISH | 03/15/24 | $95.00 | $64.0K | 352 | 0 |
| NVO | CALL | TRADE | NEUTRAL | 06/21/24 | $115.00 | $53.1K | 773 | 2 |
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.
Having examined the options trading patterns of Novo Nordisk, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Novo Nordisk
- With a volume of 1,268,827, the price of NVO is up 2.56% at $122.84.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 62 days.
Expert Opinions on Novo Nordisk
In the last month, 4 experts released ratings on this stock with an average target price of $140.0.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $140.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $140.
- An analyst from Cantor Fitzgerald persists with their Overweight rating on Novo Nordisk, maintaining a target price of $140.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $140.
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 Novo Nordisk with Benzinga Pro for real-time 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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