Looking At Amgen's Recent Unusual Options Activity

Financial giants have made a conspicuous bearish move on Amgen. Our analysis of options history for Amgen AMGN revealed 8 unusual trades.

Delving into the details, we found 12% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $128,590, and 4 were calls, valued at $1,226,500.

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What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $190.0 to $300.0 for Amgen during the past quarter.

Volume & Open Interest Development

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Amgen's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Amgen's substantial trades, within a strike price spectrum from $190.0 to $300.0 over the preceding 30 days.

Amgen 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About Amgen

Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drugs Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx Pharmaceuticals bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). The 2023 Horizon acquisition brought several rare-disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.

After a thorough review of the options trading surrounding Amgen, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Amgen's Current Market Status

• Trading volume stands at 1,025,524, with AMGN's price up by 0.12%, positioned at $288.92.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 1 days.

What Analysts Are Saying About Amgen

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $324.5.

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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. * Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Amgen, targeting a price of $319. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Amgen, targeting a price of $330.

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 Amgen with Benzinga Pro for real-time alerts.