AbbVie Unusual Options Activity

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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with ABBV, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 8 options trades for AbbVie.

This isn't normal.

The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.

Out of all of the options we uncovered, 7 are puts, for a total amount of $806,471, and there was 1 call, for a total amount of $65,475.

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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 $150.0 to $185.0 for AbbVie over the recent three 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 AbbVie's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to AbbVie's substantial trades, within a strike price spectrum from $150.0 to $185.0 over the preceding 30 days.

AbbVie 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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).

Having examined the options trading patterns of AbbVie, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is AbbVie Standing Right Now?

• With a trading volume of 6,249,708, the price of ABBV is up by 3.85%, reaching $191.72.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 73 days from now.

What The Experts Say 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 $219.0.

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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 Evercore ISI Group continues to hold a Outperform rating for AbbVie, targeting a price of $205. * Reflecting concerns, an analyst from Guggenheim lowers its rating to Buy with a new price target of $214. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for AbbVie, targeting a price of $250. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $210. * An analyst from Guggenheim persists with their Buy rating on AbbVie, maintaining a target price of $216.

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.