Deep-pocketed investors have adopted a bearish approach towards Illumina ILMN, 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 ILMN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for Illumina. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 47% leaning bullish and 52% bearish. Among these notable options, 14 are puts, totaling $976,344, and 3 are calls, amounting to $215,359.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $125.0 to $140.0 for Illumina during the past quarter.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Illumina stands at 408.0, with a total volume reaching 2,886.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Illumina, situated within the strike price corridor from $125.0 to $140.0, throughout the last 30 days.
Illumina Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ILMN | PUT | SWEEP | BEARISH | 12/20/24 | $32.8 | $28.8 | $32.8 | $140.00 | $160.7K | 724 | 87 |
| ILMN | PUT | SWEEP | BEARISH | 04/26/24 | $15.3 | $11.1 | $13.2 | $130.00 | $110.5K | 91 | 85 |
| ILMN | PUT | SWEEP | BULLISH | 04/26/24 | $11.4 | $7.1 | $9.2 | $125.00 | $109.7K | 20 | 122 |
| ILMN | CALL | SWEEP | BEARISH | 12/20/24 | $14.7 | $12.9 | $12.98 | $140.00 | $87.2K | 492 | 204 |
| ILMN | CALL | SWEEP | BEARISH | 12/20/24 | $15.9 | $13.6 | $13.6 | $140.00 | $87.0K | 492 | 132 |
About Illumina
Illumina provides tools and services to analyze genetic material with life science and clinical lab applications. The company generates over 90% of its revenue from sequencing instruments, consumables, and services. Illumina's high-throughput technology enables whole genome sequencing in humans and other large organisms. Its lower throughput tools enable applications that require smaller data outputs, such as viral and cancer tumor screening. Illumina also sells microarrays (9% of 2023 sales) that enable lower-cost, focused genetic screening with primarily consumer and agricultural applications.
After a thorough review of the options trading surrounding Illumina, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Illumina's Current Market Status
- Trading volume stands at 453,345, with ILMN's price down by -1.94%, positioned at $118.81.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 16 days.
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 Illumina, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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