Investors with a lot of money to spend have taken a bearish 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 these are institutions or just wealthy individuals, we don't know. But when something this big happens with ABBV, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 12 uncommon options trades for AbbVie.
This isn't normal.
The overall sentiment of these big-money traders is split between 16% bullish and 83%, bearish.
Out of all of the special options we uncovered, 9 are puts, for a total amount of $337,670, and 3 are calls, for a total amount of $83,706.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $250.0 for AbbVie over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for AbbVie'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 AbbVie's whale activity within a strike price range from $100.0 to $250.0 in the last 30 days.
AbbVie Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ABBV | PUT | SWEEP | BEARISH | 01/19/24 | $240.00 | $77.2K | 0 | 28 |
| ABBV | PUT | SWEEP | BEARISH | 01/19/24 | $240.00 | $48.2K | 0 | 48 |
| ABBV | PUT | SWEEP | BEARISH | 01/19/24 | $240.00 | $38.7K | 0 | 18 |
| ABBV | PUT | SWEEP | BEARISH | 01/19/24 | $250.00 | $32.0K | 0 | 3 |
| ABBV | CALL | SWEEP | BEARISH | 01/19/24 | $145.00 | $30.0K | 5.1K | 129 |
About AbbVie
AbbVie is a pharmaceutical firm with a strong exposure to immunology and oncology. The firm's top drug, Humira, represents close to half of the company's current profits. The company was spun off from Abbott in early 2013. The recent acquisition of Allergan adds several new drugs in aesthetics and women's health.
After a thorough review of the options trading surrounding AbbVie, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
AbbVie's Current Market Status
- Trading volume stands at 2,226,176, with ABBV's price up by 0.4%, positioned at $144.73.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 65 days.
Professional Analyst Ratings for AbbVie
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $165.5.
- An analyst from Deutsche Bank downgraded its action to Hold with a price target of $150.
- Consistent in their evaluation, an analyst from Raymond James keeps a Outperform rating on AbbVie with a target price of $181.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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