Financial giants have made a conspicuous bearish move on Amgen. Our analysis of options history for Amgen (NASDAQ:AMGN) revealed 9 unusual trades.
Delving into the details, we found 11% of traders were bullish, while 55% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $169,060, and 6 were calls, valued at $411,757.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $305.0 to $330.0 for Amgen during the past quarter.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Amgen's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Amgen's significant trades, within a strike price range of $305.0 to $330.0, over the past month.
Amgen 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMGN | CALL | TRADE | NEUTRAL | 08/16/24 | $15.15 | $14.8 | $14.95 | $305.00 | $74.7K | 163 | 262 |
| AMGN | CALL | TRADE | NEUTRAL | 08/16/24 | $15.15 | $14.8 | $14.95 | $305.00 | $74.7K | 163 | 112 |
| AMGN | CALL | TRADE | BEARISH | 08/16/24 | $15.05 | $14.8 | $14.9 | $305.00 | $74.5K | 163 | 62 |
| AMGN | CALL | TRADE | BEARISH | 08/16/24 | $15.1 | $14.7 | $14.85 | $305.00 | $72.7K | 163 | 212 |
| AMGN | CALL | TRADE | BEARISH | 08/16/24 | $15.05 | $14.8 | $14.9 | $305.00 | $71.5K | 163 | 14 |
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.
Where Is Amgen Standing Right Now?
- Currently trading with a volume of 818,723, the AMGN's price is down by -0.29%, now at $310.12.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 30 days.
Professional Analyst Ratings for Amgen
2 market experts have recently issued ratings for this stock, with a consensus 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.
- Maintaining their stance, an analyst from Argus Research continues to hold a Buy rating for Amgen, targeting a price of $340.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Amgen options trades with real-time alerts from Benzinga Pro.