Deep-pocketed investors have adopted a bearish approach towards Amgen ( AMGN ) , 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 AMGN usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Amgen ( AMGN ). This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 45% leaning bullish and 54% bearish. Among these notable options, 5 are puts, totaling $314,429, and 6 are calls, amounting to $210,119.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $210.0 to $290.0 for Amgen ( AMGN ) over the recent three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Amgen ( AMGN ) stands at 455.0, with a total volume reaching 765.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Amgen ( AMGN ), situated within the strike price corridor from $210.0 to $290.0, throughout the last 30 days.

Amgen 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

About Amgen

Amgen ( AMGN ) 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 ( AMGN ) introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drugs Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx Pharmaceuticals 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 brought several rare-disease drugs, including thyroid eye disease drug Tepezza. Amgen ( AMGN ) also has a growing biosimilar portfolio.

Having examined the options trading patterns of Amgen ( AMGN ), our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Amgen's Current Market Status

Trading volume stands at 1,313,938, with AMGN's price down by -1.6%, positioned at $279.24.

RSI indicators show the stock to be is currently neutral between overbought and oversold.

Earnings announcement expected in 95 days.

What Analysts Are Saying About Amgen

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $324.5.

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* An analyst from Morgan Stanley persists with their Equal-Weight rating on Amgen ( AMGN ), maintaining a target price of $330.

* Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Amgen ( AMGN ) with a target price of $319.

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 ( AMGN ) options trades with real-time alerts from Benzinga Pro.