Illumina Whale Trades Spotted

Someone with a lot of money to spend has taken a bullish stance on Illumina ILMN.

And retail traders should know.

We noticed this today when the big position 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 ILMN, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 14 options trades for Illumina.

This isn't normal.

The overall sentiment of these big-money traders is split between 57% bullish and 42%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $35,000, and 13, calls, for a total amount of $756,043..

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $175.0 to $200.0 for Illumina over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Illumina options trades today is 151.67 with a total volume of 3,010.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Illumina's big money trades within a strike price range of $175.0 to $200.0 over the last 30 days.

Illumina Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
ILMN CALL TRADE BEARISH 08/19/22 $175.00 $101.7K 452 46
ILMN CALL TRADE NEUTRAL 08/19/22 $192.50 $93.6K 1 113
ILMN CALL TRADE BULLISH 08/12/22 $200.00 $93.0K 2 103
ILMN CALL TRADE BULLISH 08/19/22 $175.00 $91.6K 452 183
ILMN CALL SWEEP BULLISH 08/19/22 $175.00 $72.5K 452 458

Where Is Illumina Standing Right Now?

  • With a volume of 770,865, the price of ILMN is up 2.9% at $192.73.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 23 days.

What The Experts Say On Illumina:

  • Barclays downgraded its action to Underweight with a price target of $150
  • Citigroup has decided to maintain their Neutral rating on Illumina, which currently sits at a price target of $220.
  • Barclays downgraded its action to Underweight with a price target of $150

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.

Market News and Data brought to you by Benzinga APIs
Date of Trade
ticker
Put/Call
Strike Price
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Sentiment
Posted In: OptionsMarketsBZI-UOA
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