Whales with a lot of money to spend have taken a noticeably bearish stance on Illumina.
Looking at options history for Illumina ILMN we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 75% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $156,849 and 5, calls, for a total amount of $284,871.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $100.0 to $140.0 for Illumina during the past quarter.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Illumina's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Illumina's significant trades, within a strike price range of $100.0 to $140.0, over the past month.
Illumina 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ILMN | CALL | TRADE | BEARISH | 12/20/24 | $115.00 | $140.0K | 7 | 50 |
| ILMN | PUT | TRADE | BEARISH | 01/17/25 | $105.00 | $58.4K | 43 | 40 |
| ILMN | PUT | TRADE | NEUTRAL | 01/19/24 | $125.00 | $55.4K | 1.0K | 0 |
| ILMN | CALL | TRADE | BEARISH | 01/19/24 | $100.00 | $49.5K | 1.2K | 43 |
| ILMN | PUT | SWEEP | NEUTRAL | 01/19/24 | $110.00 | $42.8K | 2.7K | 8 |
About Illumina
Illumina provides tools and services to analyze genetic material with life science and clinical lab applications. The company generates about 90% of its revenue from sequencing instruments, consumables, and services. Illumina's high-throughput technology enables whole genome sequencing in humans and other large organisms. Its lower throughput tools enable applications that require smaller data outputs, such as viral and cancer tumor screening. Illumina also sells microarrays (about 10% of sales) that enable lower-cost, focused genetic screening with primarily consumer and agricultural applications.
Current Position of Illumina
- Currently trading with a volume of 1,190,071, the ILMN's price is up by 1.35%, now at $113.27.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 62 days.
Professional Analyst Ratings for Illumina
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $155.0.
- An analyst from Canaccord Genuity downgraded its action to Hold with a price target of $120.
- An analyst from Piper Sandler persists with their Overweight rating on Illumina, maintaining a target price of $190.
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 Illumina 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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