Investors with a lot of money to spend have taken a bullish stance on Amgen (NASDAQ:AMGN).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AMGN, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for Amgen.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 25%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $201,232, and 2 are calls, for a total amount of $119,247.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $280.0 to $370.0 for Amgen over the recent three months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Amgen's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Amgen's substantial trades, within a strike price spectrum from $280.0 to $370.0 over the preceding 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 | SWEEP | BEARISH | 12/20/24 | $10.55 | $10.1 | $10.2 | $370.00 | $78.2K | 649 | 80 |
| AMGN | PUT | SWEEP | BULLISH | 10/18/24 | $7.1 | $5.55 | $6.3 | $335.00 | $48.5K | 628 | 46 |
| AMGN | CALL | TRADE | BEARISH | 10/18/24 | $59.45 | $58.55 | $58.55 | $280.00 | $40.9K | 89 | 7 |
| AMGN | PUT | SWEEP | NEUTRAL | 01/17/25 | $14.3 | $14.2 | $14.2 | $315.00 | $39.7K | 607 | 53 |
| AMGN | PUT | SWEEP | BULLISH | 10/04/24 | $3.45 | $3.25 | $3.25 | $332.50 | $32.5K | 4 | 100 |
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.
In light of the recent options history for Amgen, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Amgen
- Currently trading with a volume of 759,929, the AMGN's price is up by 1.08%, now at $336.52.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 40 days.
Unusual Options Activity Detected: Smart Money on the Move
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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.