Deep-pocketed investors have adopted a bearish 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 15 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 33% leaning bullish and 60% bearish. Among these notable options, 4 are puts, totaling $214,328, and 11 are calls, amounting to $708,487.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $60.0 and $74.0 for Gilead Sciences, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Gilead Sciences options trades today is 1121.55 with a total volume of 994.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Gilead Sciences's big money trades within a strike price range of $60.0 to $74.0 over the last 30 days.
Gilead Sciences Call and Put Volume: 30-Day Overview
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 | BULLISH | 01/17/25 | $7.0 | $6.85 | $7.0 | $70.00 | $157.5K | 2.8K | 111 |
| GILD | CALL | SWEEP | BEARISH | 07/19/24 | $11.85 | $11.6 | $11.69 | $60.00 | $116.1K | 469 | 100 |
| GILD | PUT | SWEEP | BULLISH | 09/20/24 | $3.9 | $3.75 | $3.75 | $72.50 | $96.7K | 78 | 2 |
| GILD | CALL | SWEEP | BEARISH | 08/16/24 | $9.85 | $9.8 | $9.8 | $62.50 | $73.5K | 1.7K | 0 |
| GILD | CALL | SWEEP | BULLISH | 07/19/24 | $12.05 | $11.65 | $11.65 | $60.00 | $67.4K | 469 | 0 |
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.
Following our analysis of the options activities associated with Gilead Sciences, we pivot to a closer look at the company's own performance.
Current Position of Gilead Sciences
- Currently trading with a volume of 2,982,844, the GILD's price is up by 0.99%, now at $71.37.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 38 days.
Expert Opinions on Gilead Sciences
In the last month, 2 experts released ratings on this stock with an average target price of $77.0.
- Maintaining their stance, an analyst from Baird continues to hold a Neutral rating for Gilead Sciences, targeting a price of $80.
- An analyst from RBC Capital has revised its rating downward to Sector Perform, adjusting the price target to $74.
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.