Deep-pocketed investors have adopted a bullish approach towards Gilead Sciences (NASDAQ:GILD), 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 GILD usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Gilead Sciences. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 3 are puts, totaling $93,168, and 5 are calls, amounting to $211,849.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $65.0 to $75.0 for Gilead Sciences over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Gilead Sciences stands at 770.43, with a total volume reaching 765.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Gilead Sciences, situated within the strike price corridor from $65.0 to $75.0, throughout the last 30 days.
Gilead Sciences Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GILD | CALL | SWEEP | BEARISH | 01/17/25 | $2.88 | $2.76 | $2.76 | $75.00 | $67.6K | 1.8K | 6 |
| GILD | CALL | SWEEP | BEARISH | 11/15/24 | $4.9 | $4.75 | $4.78 | $67.50 | $48.8K | 174 | 31 |
| GILD | CALL | SWEEP | BEARISH | 11/15/24 | $5.05 | $4.75 | $4.79 | $67.50 | $44.3K | 174 | 257 |
| GILD | PUT | TRADE | BULLISH | 11/15/24 | $4.4 | $4.2 | $4.25 | $65.00 | $42.5K | 936 | 50 |
| GILD | CALL | TRADE | BULLISH | 08/16/24 | $3.45 | $3.3 | $3.4 | $67.50 | $25.5K | 83 | 215 |
About Gilead Sciences
Gilead Sciences develops and markets therapies to treat life-threatening infectious diseases, with the core of its portfolio focused on HIV and hepatitis B and C. The acquisitions of Corus Pharma, Myogen, CV Therapeutics, Arresto Biosciences, and Calistoga have broadened this focus to include pulmonary and cardiovascular diseases and cancer. Gilead's acquisition of Pharmasset brought rights to hepatitis C drug Sovaldi, which is also part of combination drug Harvoni, and the Kite, Forty Seven, and Immunomedics acquisitions boost Gilead's exposure to cell therapy and noncell therapy in oncology.
After a thorough review of the options trading surrounding Gilead Sciences, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Gilead Sciences's Current Market Status
- With a trading volume of 2,746,138, the price of GILD is down by -1.33%, reaching $66.04.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 7 days from now.
What Analysts Are Saying About Gilead Sciences
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $75.0.
- Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Gilead Sciences, targeting a price of $75.
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.