AbbVie's Options Frenzy: What You Need to Know

Investors with a lot of money to spend have taken a bullish stance on AbbVie ABBV.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ABBV, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 27 uncommon options trades for AbbVie.

This isn't normal.

The overall sentiment of these big-money traders is split between 55% bullish and 37%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $433,724, and 18 are calls, for a total amount of $1,629,157.

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Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $155.0 to $220.0 for AbbVie over the recent three months.

Volume & Open Interest Trends

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 $155.0 to $220.0, over the past month.

AbbVie Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

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).

Following our analysis of the options activities associated with AbbVie, we pivot to a closer look at the company's own performance.

Present Market Standing of AbbVie

• With a trading volume of 5,816,954, the price of ABBV is up by 3.02%, reaching $191.67.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 87 days from now.

Expert Opinions on AbbVie

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $214.6.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Goldman Sachs downgraded its action to Neutral with a price target of $194. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $210. * An analyst from Evercore ISI Group persists with their Outperform rating on AbbVie, maintaining a target price of $205. * An analyst from Guggenheim has revised its rating downward to Buy, adjusting the price target to $214. * An analyst from Morgan Stanley persists with their Overweight rating on AbbVie, maintaining a target price of $250.

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 AbbVie options trades with real-time alerts from Benzinga Pro.