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Abbott Laboratories's Options: A Look at What the Big Money is Thinking

Author: Benzinga Insights | June 10, 2024 11:46am

Deep-pocketed investors have adopted a bullish approach towards Abbott Laboratories (NYSE:ABT), 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 ABT usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for Abbott Laboratories. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 57% leaning bullish and 42% bearish. Among these notable options, 5 are puts, totaling $279,233, and 9 are calls, amounting to $496,414.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $130.0 for Abbott Laboratories 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 Abbott Laboratories'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 Abbott Laboratories's whale trades within a strike price range from $100.0 to $130.0 in the last 30 days.

Abbott Laboratories Option Activity Analysis: Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
ABT CALL TRADE BULLISH 01/16/26 $19.55 $17.85 $19.15 $100.00 $172.3K 461 90
ABT PUT SWEEP BULLISH 08/16/24 $1.08 $1.02 $1.04 $100.00 $141.8K 1.1K 1.3K
ABT CALL SWEEP BULLISH 07/19/24 $2.6 $2.54 $2.6 $110.00 $59.2K 2.6K 546
ABT PUT TRADE BEARISH 01/17/25 $6.85 $6.65 $6.85 $110.00 $47.2K 2.6K 105
ABT CALL SWEEP BEARISH 08/16/24 $2.96 $2.79 $2.84 $110.00 $47.0K 3.1K 186

About Abbott Laboratories

Abbott manufactures and markets cardiovascular and diabetes devices, adult and pediatric nutritional products, diagnostic equipment and testing kits, and branded generic drugs. Products include pacemakers, implantable cardioverter defibrillators, neuromodulation devices, coronary stents, catheters, infant formula, nutritional liquids for adults, continuous glucose monitors, and immunoassays and point-of-care diagnostic equipment. Abbott derives approximately 60% of sales outside the United States.

In light of the recent options history for Abbott Laboratories, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Abbott Laboratories

  • With a volume of 2,238,880, the price of ABT is up 0.47% at $108.09.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 38 days.

Professional Analyst Ratings for Abbott Laboratories

3 market experts have recently issued ratings for this stock, with a consensus target price of $121.66666666666667.

  • An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $125.
  • An analyst from Goldman Sachs has revised its rating downward to Buy, adjusting the price target to $121.
  • An analyst from Citigroup has decided to maintain their Buy rating on Abbott Laboratories, which currently sits at a price target of $119.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Abbott Laboratories with Benzinga Pro for real-time alerts.

Posted In: ABT