Deep-pocketed investors have adopted a bullish approach towards Kenvue KVUE, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in KVUE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Kenvue. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 58% leaning bullish and 41% bearish. Among these notable options, 3 are puts, totaling $1,103,756, and 9 are calls, amounting to $682,440.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $13.0 to $24.0 for Kenvue during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Kenvue stands at 16189.12, with a total volume reaching 34,780.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Kenvue, situated within the strike price corridor from $13.0 to $24.0, throughout the last 30 days.
Kenvue 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 |
|---|---|---|---|---|---|---|---|---|
| KVUE | PUT | TRADE | BEARISH | 01/19/24 | $20.00 | $1.0M | 15.3K | 13.5K |
| KVUE | CALL | TRADE | BULLISH | 01/12/24 | $22.00 | $180.0K | 9.0K | 3.0K |
| KVUE | CALL | TRADE | BEARISH | 02/16/24 | $24.00 | $170.0K | 16.8K | 5.0K |
| KVUE | CALL | SWEEP | BULLISH | 01/16/26 | $13.00 | $92.9K | 5 | 577 |
| KVUE | CALL | SWEEP | BULLISH | 01/19/24 | $21.00 | $61.9K | 64.1K | 1.2K |
About Kenvue
Kenvue is the world's largest pure-play consumer health company by sales, generating $15 billion in annual revenue. Formerly known as Johnson & Johnson's consumer segment, Kenvue spun off and went public in May 2023. It operates in a variety of silos within consumer health, such as cough, cold and allergy care, pain management, face and body care, and oral care, as well as women's health. Its portfolio includes a wide array of some of the most well-known brands in the space, including Tylenol, Listerine, Johnson's, Aveeno, and Neutrogena. Despite playing in a fragmented industry with intense competition and ever-changing consumer preferences, many of Kenvue's brands are the global leader in their respective segment thanks to their strong brand power.
After a thorough review of the options trading surrounding Kenvue, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Kenvue
- With a volume of 5,752,381, the price of KVUE is up 0.44% at $20.68.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 58 days.
Professional Analyst Ratings for Kenvue
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $20.0.
- Reflecting concerns, an analyst from Piper Sandler lowers its rating to Neutral with a new price target of $20.
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 Kenvue 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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