Looking At Illumina's Recent Unusual Options Activity

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 10 uncommon options trades for Illumina.

This isn't normal.

The overall sentiment of these big-money traders is split between 30% bullish and 70%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $422,875, and 2 are calls, for a total amount of $80,620.

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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 $140.0 to $195.0 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 415.0 with a total volume of 1,705.00.

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 $140.0 to $195.0 over the last 30 days.

Illumina Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Illumina Standing Right Now?

• With a volume of 758,859, the price of ILMN is down -0.68% at $139.57.
• RSI indicators hint that the underlying stock may be oversold.
• Next earnings are expected to be released in 43 days.

What The Experts Say On Illumina:

• Evercore ISI Group downgraded its action to Outperform with a price target of $240

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.