A whale with a lot of money to spend has taken a noticeably bearish stance on AbbVie.
Looking at options history for AbbVie (NYSE:ABBV) we detected 22 strange trades.
If we consider the specifics of each trade, it is accurate to state that 31% of the investors opened trades with bullish expectations and 68% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $117,583 and 19, calls, for a total amount of $992,367.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $150.0 for AbbVie over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for AbbVie'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 AbbVie's whale trades within a strike price range from $60.0 to $150.0 in the last 30 days.
AbbVie Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ABBV | CALL | TRADE | NEUTRAL | 02/18/22 | $100.00 | $132.2K | 65 | 30 |
| ABBV | CALL | SWEEP | BEARISH | 01/20/23 | $130.00 | $84.0K | 3.9K | 41 |
| ABBV | CALL | TRADE | BEARISH | 01/20/23 | $80.00 | $83.4K | 290 | 40 |
| ABBV | CALL | TRADE | BEARISH | 05/20/22 | $125.00 | $79.5K | 2.9K | 45 |
| ABBV | CALL | TRADE | BULLISH | 01/20/23 | $150.00 | $71.0K | 6.4K | 82 |
Where Is AbbVie Standing Right Now?
- With a volume of 5,446,030, the price of ABBV is up 0.94% at $144.34.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 73 days.
What The Experts Say On AbbVie:
- Barclays has decided to maintain their Equal-Weight rating on AbbVie, which currently sits at a price target of $150.
- Barclays has decided to maintain their Equal-Weight rating on AbbVie, which currently sits at a price target of $133.
- Morgan Stanley has decided to maintain their Overweight rating on AbbVie, which currently sits at a price target of $142.
- Mizuho has decided to maintain their Buy rating on AbbVie, which currently sits at a price target of $166.
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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
