Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Benzinga Insights

Illumina Whale Trades Spotted

 

Someone with a lot of money to spend has taken a bullish stance on Illumina (NASDAQ:ILMN).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with ILMN, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 10 options trades for Illumina.

This isn't normal.

The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $49,000, and 9, calls, for a total amount of $1,065,049..

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 $220.0 to $260.0 for Illumina over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Illumina options trades today is 161.67 with a total volume of 1,366.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Illumina's big money trades within a strike price range of $220.0 to $260.0 over the last 30 days.

Illumina 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
ILMN CALL SWEEP BEARISH 01/19/24 $230.00 $399.3K 57 91
ILMN CALL TRADE BEARISH 01/19/24 $240.00 $238.5K 28 61
ILMN CALL SWEEP BEARISH 10/21/22 $260.00 $202.1K 15 531
ILMN PUT TRADE BEARISH 09/16/22 $230.00 $49.0K 140 41
ILMN CALL TRADE BULLISH 01/19/24 $240.00 $40.5K 28 73

Where Is Illumina Standing Right Now?

  • With a volume of 803,285, the price of ILMN is down -4.79% at $215.73.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 79 days.

What The Experts Say On Illumina:

  • Morgan Stanley has decided to maintain their Equal-Weight rating on Illumina, which currently sits at a price target of $240.
  • Citigroup has decided to maintain their Neutral rating on Illumina, which currently sits at a price target of $200.
  • Stifel has decided to maintain their Buy rating on Illumina, which currently sits at a price target of $300.
  • SVB Leerink has decided to maintain their Market Perform rating on Illumina, which currently sits at a price target of $220.
  • Piper Sandler has decided to maintain their Overweight rating on Illumina, which currently sits at a price target of $320.

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 Illumina, Benzinga Pro gives you real-time options trades alerts.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.