Whales with a lot of money to spend have taken a noticeably bearish stance on Amgen.
Looking at options history for Amgen (NASDAQ:AMGN) we detected 67 trades.
If we consider the specifics of each trade, it is accurate to state that 31% of the investors opened trades with bullish expectations and 49% with bearish.
From the overall spotted trades, 19 are puts, for a total amount of $647,913 and 48, calls, for a total amount of $1,489,311.
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 $250.0 to $330.0 for Amgen over the last 3 months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Amgen options trades today is 826.38 with a total volume of 28,191.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Amgen's big money trades within a strike price range of $250.0 to $330.0 over the last 30 days.
Amgen Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMGN | PUT | SWEEP | BEARISH | 01/17/25 | $28.55 | $27.85 | $28.55 | $315.00 | $97.0K | 1073 | |
| AMGN | CALL | SWEEP | BEARISH | 01/17/25 | $16.9 | $16.7 | $16.7 | $330.00 | $66.5K | 835183 | |
| AMGN | CALL | SWEEP | BULLISH | 01/17/25 | $16.75 | $16.3 | $16.65 | $330.00 | $66.4K | 8350 | |
| AMGN | CALL | SWEEP | BULLISH | 01/17/25 | $17.2 | $16.4 | $16.5 | $330.00 | $59.4K | 8351.3K | |
| AMGN | CALL | SWEEP | BULLISH | 01/17/25 | $16.45 | $16.35 | $16.45 | $330.00 | $49.1K | 8351.5K |
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.
Following our analysis of the options activities associated with Amgen, we pivot to a closer look at the company's own performance.
Present Market Standing of Amgen
- Currently trading with a volume of 1,071,864, the AMGN's price is down by 0.0%, now at $303.28.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 44 days.
Expert Opinions on Amgen
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $332.0.
- Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for Amgen, targeting a price of $332.
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.