High-rolling investors have positioned themselves bullish on Seagen SGEN, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in SGEN often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 11 options trades for Seagen. This is not a typical pattern.
The sentiment among these major traders is split, with 81% bullish and 18% bearish. Among all the options we identified, there was one put, amounting to $45,000, and 10 calls, totaling $329,240.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $205.0 and $220.0 for Seagen, spanning the last three months.
Analyzing Volume & Open Interest
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 Seagen'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 Seagen's whale trades within a strike price range from $205.0 to $220.0 in the last 30 days.
Seagen Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SGEN | PUT | TRADE | BEARISH | 12/15/23 | $205.00 | $45.0K | 8.1K | 1.2K |
| SGEN | CALL | SWEEP | BULLISH | 12/15/23 | $220.00 | $35.0K | 13.1K | 2.1K |
| SGEN | CALL | SWEEP | NEUTRAL | 12/15/23 | $220.00 | $35.0K | 13.1K | 2.0K |
| SGEN | CALL | TRADE | BULLISH | 12/15/23 | $220.00 | $35.0K | 13.1K | 1.9K |
| SGEN | CALL | SWEEP | BULLISH | 12/15/23 | $220.00 | $35.0K | 13.1K | 1.2K |
About Seagen
Seagen (formerly known as Seattle Genetics) is a biotech firm that develops and commercializes therapies to treat cancers. Seagen's therapies are based on antibody-drug conjugate technology that utilizes the targeting ability of monoclonal antibodies to deliver cell-killing agents directly to cancer cells. The company's lead product, Adcetris, has received approval for six indications to treat Hodgkin lymphoma and T-cell lymphoma. Other approved products include Padcev for bladder cancer, Tukysa for breast cancer, and Tivdak for cervical cancer. The company has several other oncology programs in pivotal trials. Seagen also licenses its antibody-drug conjugate technology to several leading biotechnology and pharmaceutical companies.
Having examined the options trading patterns of Seagen, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Seagen
- With a volume of 580,219, the price of SGEN is up 0.24% at $218.85.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 68 days.
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 Seagen 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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