Looking At Biogen's Recent Unusual Options Activity

A whale with a lot of money to spend has taken a noticeably bearish stance on Biogen.

Looking at options history for Biogen BIIB we detected 11 strange trades.

If we consider the specifics of each trade, it is accurate to state that 18% of the investors opened trades with bullish expectations and 81% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $254,893 and 7, calls, for a total amount of $347,588.

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 $265.0 to $315.0 for Biogen 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 Biogen'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 Biogen's whale trades within a strike price range from $265.0 to $315.0 in the last 30 days.

Biogen 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
BIIB PUT TRADE BEARISH 05/26/23 $290.00 $130.0K 59 200
BIIB CALL SWEEP BEARISH 06/16/23 $300.00 $126.4K 755 82
BIIB PUT SWEEP BEARISH 06/16/23 $295.00 $58.1K 164 160
BIIB CALL SWEEP BEARISH 05/19/23 $295.00 $56.2K 334 145
BIIB CALL SWEEP BULLISH 05/19/23 $295.00 $44.0K 334 46

Where Is Biogen Standing Right Now?

  • With a volume of 845,356, the price of BIIB is up 3.76% at $304.76.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 82 days.

What The Experts Say On Biogen:

  • HC Wainwright & Co. downgraded its action to Buy with a price target of $325
  • Wedbush downgraded its action to Neutral with a price target of $263
  • Needham downgraded its action to Buy with a price target of $325
  • Wedbush has decided to maintain their Neutral rating on Biogen, which currently sits at a price target of $263.
  • Needham has decided to maintain their Buy rating on Biogen, which currently sits at a price target of $321.

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 Biogen, Benzinga Pro gives you real-time options trades alerts.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In: OptionsMarketsBZI-UOA
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...