Deep-pocketed investors have adopted a bullish approach towards Novo Nordisk (NYSE:NVO), 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 NVO usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for Novo Nordisk. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 52% leaning bullish and 35% bearish. Among these notable options, 9 are puts, totaling $352,686, and 8 are calls, amounting to $577,375.
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 $75.0 to $155.0 for Novo Nordisk during the past quarter.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Novo Nordisk's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Novo Nordisk's whale activity within a strike price range from $75.0 to $155.0 in the last 30 days.
Novo Nordisk Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVO | CALL | TRADE | BULLISH | 12/20/24 | $3.35 | $3.15 | $3.7 | $109.00 | $185.0K | 1.0K | 554 |
| NVO | CALL | SWEEP | BULLISH | 01/17/25 | $5.0 | $4.8 | $5.0 | $110.00 | $96.5K | 3.9K | 253 |
| NVO | CALL | TRADE | NEUTRAL | 01/17/25 | $19.0 | $17.9 | $18.4 | $90.00 | $91.9K | 834 | 50 |
| NVO | PUT | SWEEP | BEARISH | 12/20/24 | $3.2 | $3.0 | $3.2 | $103.00 | $72.9K | 2.1K | 778 |
| NVO | PUT | SWEEP | BEARISH | 01/03/25 | $3.25 | $3.05 | $3.24 | $100.00 | $56.6K | 342 | 211 |
About Novo Nordisk
With roughly one third of the global branded diabetes treatment market, Novo Nordisk is the leading provider of diabetes-care products in the world. Based in Denmark, the company manufactures and markets a variety of human and modern insulins, injectable diabetes treatments such as GLP-1 therapy, oral antidiabetic agents, and obesity treatments. Novo also has a biopharmaceutical segment (constituting roughly 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.
Having examined the options trading patterns of Novo Nordisk, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Novo Nordisk's Current Market Status
- Trading volume stands at 3,835,436, with NVO's price down by -2.67%, positioned at $105.72.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 47 days.
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