Illumina Whale Trades For August 12

Illumina Whale Trades For August 12

 

Someone with a lot of money to spend has taken a bearish 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.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 12 uncommon options trades for Illumina.

This isn't normal.

The overall sentiment of these big-money traders is split between 41% bullish and 58%, bearish.

Out of all of the special options we uncovered, 10 are puts, for a total amount of $439,630, and 2 are calls, for a total amount of $69,060.

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 $185.0 to $720.0 for Illumina over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Illumina's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Illumina's whale trades within a strike price range from $185.0 to $720.0 in 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 PUT SWEEP BEARISH 08/12/22 $217.50 $74.4K 398 163
ILMN PUT SWEEP BEARISH 08/12/22 $217.50 $71.4K 398 53
ILMN PUT TRADE BULLISH 09/30/22 $240.00 $52.3K 0 15
ILMN PUT TRADE BULLISH 06/16/23 $720.00 $51.4K 0 0
ILMN CALL TRADE BEARISH 09/16/22 $190.00 $39.0K 91 45

Where Is Illumina Standing Right Now?

  • With a volume of 2,632,464, the price of ILMN is down -7.37% at $210.68.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 83 days.

What The Experts Say On Illumina:

  • SVB Leerink has decided to maintain their Market Perform rating on Illumina, which currently sits at a price target of $220.
  • Barclays downgraded its action to Underweight with a price target of $150
  • Stifel has decided to maintain their Buy rating on Illumina, which currently sits at a price target of $300.
  • Citigroup has decided to maintain their Neutral rating on Illumina, which currently sits at a price target of $200.
  • Piper Sandler has decided to maintain their Overweight rating on Illumina, which currently sits at a price target of $320.

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.

Posted In: BZI-UOAOptionsMarkets