High-rolling investors have positioned themselves bullish on Amgen (NASDAQ:AMGN), 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 AMGN often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Amgen. This is not a typical pattern.
The sentiment among these major traders is split, with 44% bullish and 44% bearish. Among all the options we identified, there was one put, amounting to $41,538, and 8 calls, totaling $507,807.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $200.0 to $320.0 for Amgen over the last 3 months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Amgen'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 Amgen's whale activity within a strike price range from $200.0 to $320.0 in the last 30 days.
Amgen 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMGN | CALL | TRADE | BULLISH | 01/17/25 | $23.35 | $23.2 | $23.3 | $310.00 | $174.7K | 1.1K | 1 |
| AMGN | CALL | TRADE | BULLISH | 01/17/25 | $40.3 | $38.15 | $39.7 | $280.00 | $99.2K | 1.7K | 0 |
| AMGN | CALL | TRADE | BULLISH | 07/12/24 | $6.55 | $5.3 | $6.25 | $305.00 | $62.5K | 49 | 1 |
| AMGN | CALL | TRADE | NEUTRAL | 01/16/26 | $109.8 | $107.6 | $108.9 | $200.00 | $54.4K | 45 | 1 |
| AMGN | PUT | SWEEP | BEARISH | 06/21/24 | $10.65 | $10.0 | $10.65 | $312.50 | $41.5K | 203 | 1 |
About Amgen
Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). The 2023 Horizon acquisition brings several rare-disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.
After a thorough review of the options trading surrounding Amgen, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Amgen
- With a trading volume of 996,756, the price of AMGN is up by 0.16%, reaching $301.17.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 50 days from now.
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.