A whale with a lot of money to spend has taken a noticeably bearish stance on Biogen.
Looking at options history for Biogen (NASDAQ:BIIB) we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 63% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $106,150 and 8, calls, for a total amount of $682,100.
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 $190.0 to $325.0 for Biogen 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 Biogen'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 Biogen's whale trades within a strike price range from $190.0 to $325.0 in the last 30 days.
Biogen 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 |
|---|---|---|---|---|---|---|---|---|
| BIIB | CALL | SWEEP | BEARISH | 02/18/22 | $190.00 | $254.8K | 1 | 0 |
| BIIB | CALL | TRADE | BULLISH | 01/14/22 | $255.00 | $144.0K | 51 | 0 |
| BIIB | CALL | TRADE | BULLISH | 01/20/23 | $300.00 | $99.4K | 764 | 75 |
| BIIB | CALL | SWEEP | BEARISH | 02/18/22 | $250.00 | $55.1K | 16 | 3 |
| BIIB | PUT | TRADE | NEUTRAL | 01/21/22 | $220.00 | $41.8K | 1.8K | 239 |
Where Is Biogen Standing Right Now?
- With a volume of 1,779,544, the price of BIIB is down -7.16% at $239.82.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 34 days.
What The Experts Say On Biogen:
- Wells Fargo downgraded its action to Equal-Weight with a price target of $250
- Baird has decided to maintain their Neutral rating on Biogen, which currently sits at a price target of $258.
- Goldman Sachs downgraded its action to Neutral with a price target of $271
- Oppenheimer has decided to maintain their Outperform rating on Biogen, which currently sits at a price target of $350.
- B of A Securities has decided to maintain their Neutral rating on Biogen, which currently sits at a price target of $275.
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.
