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High-rolling investors have positioned themselves bullish 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 9 options trades for Novo Nordisk. This is not a typical pattern.
The sentiment among these major traders is split, with 66% bullish and 11% bearish. Among all the options we identified, there was one put, amounting to $26,390, and 8 calls, totaling $868,304.
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $100.0 and $145.0 for Novo Nordisk, spanning the last three months.
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Novo Nordisk's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Novo Nordisk's significant trades, within a strike price range of $100.0 to $145.0, over the past month.
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
---|---|---|---|---|---|---|---|---|---|---|---|
NVO | CALL | TRADE | BULLISH | 09/27/24 | $4.9 | $4.0 | $4.7 | $140.00 | $493.5K | 103 | 2 |
NVO | CALL | TRADE | BULLISH | 03/21/25 | $33.85 | $33.65 | $33.85 | $110.00 | $101.5K | 187 | 31 |
NVO | CALL | SWEEP | BULLISH | 09/13/24 | $3.95 | $3.75 | $3.95 | $138.00 | $99.9K | 694 | 302 |
NVO | CALL | SWEEP | BULLISH | 09/20/24 | $2.11 | $2.09 | $2.1 | $145.00 | $41.8K | 7.9K | 208 |
NVO | CALL | TRADE | NEUTRAL | 11/15/24 | $40.65 | $38.65 | $39.56 | $100.00 | $39.5K | 6 | 10 |
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.
After a thorough review of the options trading surrounding Novo Nordisk, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
3 market experts have recently issued ratings for this stock, with a consensus target price of $160.0.
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 Novo Nordisk options trades with real-time alerts from Benzinga Pro.
Posted In: NVO