Investors with a lot of money to spend have taken a bullish stance on AbbVie (NYSE:ABBV).
And retail traders should know.
We noticed this today when the positions 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.
Today, Benzinga's options scanner spotted 11 options trades for AbbVie.
This isn't normal.
The overall sentiment of these big-money traders is split between 63% bullish and 36%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $90,860, and 10, calls, for a total amount of $455,657.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $150.0 to $175.0 for AbbVie over the last 3 months.
Insights into 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 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 trades within a strike price range from $150.0 to $175.0 in the last 30 days.
AbbVie 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
ABBV | PUT | SWEEP | BEARISH | 11/15/24 | $7.7 | $7.65 | $7.7 | $160.00 | $90.8K | 271 | 0 |
ABBV | CALL | SWEEP | BEARISH | 01/16/26 | $22.95 | $22.2 | $22.2 | $155.00 | $82.1K | 137 | 37 |
ABBV | CALL | TRADE | BULLISH | 08/16/24 | $1.39 | $1.25 | $1.39 | $175.00 | $59.4K | 4.1K | 438 |
ABBV | CALL | TRADE | BULLISH | 07/19/24 | $5.15 | $4.95 | $5.1 | $160.00 | $56.1K | 285 | 135 |
ABBV | CALL | SWEEP | BULLISH | 06/21/24 | $0.63 | $0.58 | $0.63 | $170.00 | $47.2K | 5.2K | 1.0K |
About AbbVie
AbbVie is a pharmaceutical firm with a strong exposure to immunology (with Humira, Skyrizi, and Rinvoq) and oncology (with Imbruvica and Venclexta). The company was spun off from Abbott in early 2013. The 2020 acquisition of Allergan added several new products and drugs in aesthetics (including Botox).
Where Is AbbVie Standing Right Now?
With a trading volume of 2,513,831, the price of ABBV is down by -0.88%, reaching $161.5.
Current RSI values indicate that the stock is may be approaching oversold.
Next earnings report is scheduled for 64 days from now.
What Analysts Are Saying About AbbVie
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $189.0.
Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $200.
Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on AbbVie with a target price of $187.
An analyst from BMO Capital persists with their Outperform rating on AbbVie, maintaining a target price of $180.
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.