Whales with a lot of money to spend have taken a noticeably bearish stance on AbbVie.
Looking at options history for AbbVie ABBV we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 38% of the investors opened trades with bullish expectations and 61% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $352,755 and 6, calls, for a total amount of $290,155.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $85.0 and $177.5 for AbbVie, 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 AbbVie's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across AbbVie's significant trades, within a strike price range of $85.0 to $177.5, over the past month.
AbbVie Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ABBV | PUT | SWEEP | BULLISH | 05/17/24 | $3.9 | $3.8 | $3.8 | $160.00 | $104.3K | 1.3K | 665 |
| ABBV | PUT | SWEEP | BEARISH | 05/17/24 | $3.55 | $3.2 | $3.55 | $160.00 | $88.7K | 1.3K | 253 |
| ABBV | CALL | TRADE | BULLISH | 01/17/25 | $79.2 | $77.85 | $79.2 | $85.00 | $79.2K | 5 | 10 |
| ABBV | CALL | TRADE | BULLISH | 01/16/26 | $26.3 | $26.3 | $26.3 | $155.00 | $52.6K | 108 | 20 |
| ABBV | CALL | SWEEP | NEUTRAL | 05/17/24 | $4.2 | $4.2 | $4.2 | $165.00 | $44.5K | 6.5K | 123 |
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).
Current Position of AbbVie
- With a trading volume of 1,680,147, the price of ABBV is up by 0.22%, reaching $162.63.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 11 days from now.
What Analysts Are Saying About AbbVie
2 market experts have recently issued ratings for this stock, with a consensus target price of $192.5.
- Maintaining their stance, an analyst from Guggenheim continues to hold a Buy rating for AbbVie, targeting a price of $190.
- Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for AbbVie, targeting a price of $195.
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 AbbVie with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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