Behind the Scenes of Abbott Laboratories's Latest Options Trends

Author: Benzinga Insights | July 25, 2024 02:47pm

Whales with a lot of money to spend have taken a noticeably bullish stance on Abbott Laboratories.

Looking at options history for Abbott Laboratories (NYSE:ABT) we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 37% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $96,943 and 6, calls, for a total amount of $244,146.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $105.0 to $130.0 for Abbott Laboratories over the recent three months.

Insights into Volume & Open Interest

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 $105.0 to $130.0 in the last 30 days.

Abbott Laboratories Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
ABT	CALL	TRADE	BULLISH	08/16/24	$4.2	$4.05	$4.15	$105.00	$103.7K	8.3K	489
ABT	PUT	SWEEP	BEARISH	08/16/24	$2.71	$2.66	$2.7	$107.00	$57.7K	108	621
ABT	PUT	TRADE	NEUTRAL	08/16/24	$23.2	$22.85	$23.05	$130.00	$39.1K	0	17
ABT	CALL	SWEEP	BULLISH	07/26/24	$1.8	$1.64	$1.8	$106.00	$29.8K	1.6K	684
ABT	CALL	TRADE	BULLISH	11/15/24	$2.98	$2.54	$2.82	$115.00	$28.2K	1.8K	0

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.

Following our analysis of the options activities associated with Abbott Laboratories, we pivot to a closer look at the company's own performance.

Where Is Abbott Laboratories Standing Right Now?

• With a volume of 3,572,917, the price of ABT is down -0.69% at $106.52.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 83 days.

What Analysts Are Saying About Abbott Laboratories

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $120.0.

• Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Abbott Laboratories with a target price of $120.

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 Abbott Laboratories options trades with real-time alerts from Benzinga Pro.

Posted In: ABT