Investors with a lot of money to spend have taken a bearish stance on AbbVie ( ABBV ) .
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 ABBV, 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 16 uncommon options trades for AbbVie ( ABBV ).
This isn't normal.
The overall sentiment of these big-money traders is split between 31% bullish and 50%, bearish.
Out of all of the special options we uncovered, 10 are puts, for a total amount of $786,285, and 6 are calls, for a total amount of $289,665.
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $185.0 to $215.0 for AbbVie ( ABBV ) over the last 3 months.
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 AbbVie's ( ABBV ) 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 AbbVie's ( ABBV ) whale activity within a strike price range from $185.0 to $215.0 in the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ABBV | PUT | SWEEP | BULLISH | 678 | 1.2K | ||||||
| ABBV | PUT | SWEEP | BEARISH | 678 | 1.7K | ||||||
| ABBV | PUT | SWEEP | BEARISH | 4.8K | 520 | ||||||
| ABBV | PUT | SWEEP | BULLISH | 678 | 7 | ||||||
| ABBV | CALL | SWEEP | BULLISH | 7.7K | 148 |
AbbVie ( ABBV ) is a pharmaceutical firm with a strong exposure to immunology (with Humira, Skyrizi, and Rinvoq) and oncology (with Imbruvica and Venclexta). The company was spun off from Abbott in early 2013. The 2020 acquisition of Allergan added several new products and drugs in aesthetics (including Botox).
With a trading volume of 3,955,651, the price of ABBV is up by 0.66%, reaching $210.91.
Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
Next earnings report is scheduled for 24 days from now.
In the last month, 2 experts released ratings on this stock with an average target price of $231.5.
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* An analyst from Wells Fargo has decided to maintain their Overweight rating on AbbVie ( ABBV ), which currently sits at a price target of $240.
* Maintaining their stance, an analyst from B of A Securities continues to hold a Neutral rating for AbbVie ( ABBV ), targeting a price of $223.
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.
If you want to stay updated on the latest options trades for AbbVie ( ABBV ), Benzinga Pro gives you real-time options trades alerts.
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