AbbVie Unusual Options Activity

Author: Benzinga Insights | July 11, 2024 02:47pm

Investors with a lot of money to spend have taken a bearish stance on AbbVie (NYSE:ABBV).

And retail traders should know.

We noticed this today when the positions 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.

Today, Benzinga's options scanner spotted 19 options trades for AbbVie.

This isn't normal.

The overall sentiment of these big-money traders is split between 15% bullish and 84%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $59,375, and 18, calls, for a total amount of $1,184,210.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $130.0 to $167.5 for AbbVie during the past quarter.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in AbbVie's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to AbbVie's substantial trades, within a strike price spectrum from $130.0 to $167.5 over the preceding 30 days.

AbbVie Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
ABBV	CALL	TRADE	BEARISH	01/17/25	$40.8	$40.2	$40.3	$130.00	$104.7K	362	101
ABBV	CALL	TRADE	BEARISH	01/17/25	$41.8	$41.2	$41.4	$130.00	$103.5K	362	127
ABBV	CALL	TRADE	BEARISH	01/17/25	$41.75	$41.05	$41.3	$130.00	$103.2K	362	152
ABBV	CALL	TRADE	BEARISH	01/17/25	$41.15	$40.4	$40.5	$130.00	$101.2K	362	50
ABBV	CALL	TRADE	BEARISH	01/17/25	$41.05	$40.4	$40.5	$130.00	$101.2K	362	0

About AbbVie

AbbVie 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).

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

Where Is AbbVie Standing Right Now?

With a trading volume of 1,712,582, the price of ABBV is up by 1.09%, reaching $169.97.
Current RSI values indicate that the stock is may be approaching overbought.
Next earnings report is scheduled for 14 days from now.

What The Experts Say On AbbVie

5 market experts have recently issued ratings for this stock, with a consensus target price of $195.2.

In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $200.
Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for AbbVie, targeting a price of $190.
Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for AbbVie, targeting a price of $190.
An analyst from Morgan Stanley persists with their Overweight rating on AbbVie, maintaining a target price of $196.
An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $200.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest AbbVie options trades with real-time alerts from Benzinga Pro.

Posted In: ABBV