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High-rolling investors have positioned themselves bearish on Novo Nordisk (NYSE:NVO), and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in NVO often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 11 options trades for Novo Nordisk. This is not a typical pattern.
The sentiment among these major traders is split, with 36% bullish and 45% bearish. Among all the options we identified, there was one put, amounting to $94,500, and 10 calls, totaling $494,105.
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $124.0 to $165.0 for Novo Nordisk over the last 3 months.
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 Novo Nordisk'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 Novo Nordisk's whale trades within a strike price range from $124.0 to $165.0 in the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVO | PUT | SWEEP | BULLISH | 08/09/24 | $1.97 | $1.75 | $1.75 | $125.00 | $94.5K | 471 | 606 |
| NVO | CALL | SWEEP | BULLISH | 08/16/24 | $10.3 | $10.1 | $10.1 | $124.00 | $75.7K | 167 | 0 |
| NVO | CALL | SWEEP | BULLISH | 08/09/24 | $4.15 | $4.0 | $4.15 | $133.00 | $68.9K | 126 | 581 |
| NVO | CALL | SWEEP | NEUTRAL | 08/09/24 | $6.35 | $6.1 | $6.21 | $129.00 | $62.7K | 891 | 280 |
| NVO | CALL | SWEEP | BEARISH | 01/17/25 | $3.7 | $3.55 | $3.55 | $165.00 | $57.5K | 1.5K | 164 |
With roughly one third of the global branded diabetes treatment market, Novo Nordisk is the leading provider of diabetes-care products in the world. Based in Denmark, the company manufactures and markets a variety of human and modern insulins, injectable diabetes treatments such as GLP-1 therapy, oral antidiabetic agents, and obesity treatments. Novo also has a biopharmaceutical segment (constituting roughly 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.
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 Novo Nordisk with Benzinga Pro for real-time alerts.
Posted In: NVO
