Novo Nordisk's Options Frenzy: What You Need to Know
Novo Nordisk's Options Frenzy: What You Need to Know
Whales with a lot of money to spend have taken a noticeably bearish stance on Novo Nordisk.
Looking at options history for Novo Nordisk (NYSE:NVO) 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 62% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $155,555 and 5, calls, for a total amount of $255,360.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $100.0 to $175.0 for Novo Nordisk during the past quarter.
Analyzing 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 Novo Nordisk's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Novo Nordisk's substantial trades, within a strike price spectrum from $100.0 to $175.0 over the preceding 30 days.
Novo Nordisk Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVO | PUT | TRADE | BEARISH | 11/15/24 | $3.6 | $3.45 | $3.55 | $115.00 | $71.0K | 100 | 4 |
| NVO | CALL | SWEEP | BEARISH | 08/16/24 | $5.4 | $5.25 | $5.25 | $127.00 | $66.0K | 2 | 125 |
| NVO | CALL | SWEEP | BEARISH | 01/17/25 | $33.65 | $33.3 | $33.42 | $100.00 | $63.4K | 1.4K | 19 |
| NVO | CALL | SWEEP | BULLISH | 09/20/24 | $1.75 | $1.71 | $1.73 | $145.00 | $48.9K | 8.1K | 415 |
| NVO | CALL | SWEEP | BEARISH | 01/17/25 | $15.25 | $14.4 | $14.66 | $125.00 | $43.9K | 1.0K | 31 |
About Novo Nordisk
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.
In light of the recent options history for Novo Nordisk, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Novo Nordisk
- Trading volume stands at 1,568,565, with NVO's price down by -3.0%, positioned at $127.65.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 13 days.
Expert Opinions on Novo Nordisk
In the last month, 1 experts released ratings on this stock with an average target price of $160.0.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $160.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.