Looking At Novo Nordisk's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bearish stance on Novo Nordisk NVO.

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 NVO, 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 20 uncommon options trades for Novo Nordisk.

This isn't normal.

The overall sentiment of these big-money traders is split between 35% bullish and 45%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $243,377, and 14 are calls, for a total amount of $2,037,989.

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Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $45.0 to $80.0 for Novo Nordisk over the last 3 months.

Insights into Volume & Open Interest

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 $45.0 to $80.0 over the preceding 30 days.

Novo Nordisk Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

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 less than 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.

Novo Nordisk's Current Market Status

• With a volume of 8,572,808, the price of NVO is down -1.65% at $65.36.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 6 days.

What The Experts Say On Novo Nordisk

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $64.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Reflecting concerns, an analyst from BMO Capital lowers its rating to Market Perform with a new price target of $64.

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 Novo Nordisk options trades with real-time alerts from Benzinga Pro.