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 10 trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $87,820 and 8, calls, for a total amount of $345,235.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $270.0 to $345.0 for Amgen over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Amgen options trades today is 240.4 with a total volume of 1,132.00.
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 $270.0 to $345.0 over the last 30 days.
Amgen Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMGN | CALL | SWEEP | BULLISH | 08/16/24 | $8.1 | $7.75 | $8.1 | $320.00 | $86.6K | 971 | 119 |
| AMGN | CALL | TRADE | BULLISH | 08/16/24 | $10.5 | $9.45 | $10.5 | $320.00 | $52.5K | 971 | 1 |
| AMGN | PUT | SWEEP | BEARISH | 07/19/24 | $5.05 | $4.75 | $4.93 | $317.50 | $50.3K | 80 | 0 |
| AMGN | CALL | TRADE | BEARISH | 08/16/24 | $9.6 | $9.4 | $9.4 | $320.00 | $47.0K | 971 | 65 |
| AMGN | CALL | SWEEP | BULLISH | 01/17/25 | $14.45 | $13.65 | $13.8 | $345.00 | $40.0K | 19 | 90 |
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.
Amgen's Current Market Status
- Currently trading with a volume of 869,379, the AMGN's price is down by -0.34%, now at $311.39.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 31 days.
Professional Analyst Ratings for Amgen
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $336.0.
- An analyst from RBC Capital has decided to maintain their Outperform rating on Amgen, which currently sits at a price target of $332.
- An analyst from Argus Research persists with their Buy rating on Amgen, maintaining a target price of $340.
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