Market Whales and Their Recent Bets on AMGN Options
Market Whales and Their Recent Bets on AMGN Options
Deep-pocketed investors have adopted a bullish approach towards Amgen (NASDAQ:AMGN), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AMGN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Amgen. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 58% leaning bullish and 33% bearish. Among these notable options, 3 are puts, totaling $131,892, and 9 are calls, amounting to $509,076.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $270.0 and $400.0 for Amgen, spanning the last three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Amgen options trades today is 710.62 with a total volume of 2,420.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Amgen's big money trades within a strike price range of $270.0 to $400.0 over the last 30 days.
Amgen 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMGN | CALL | SWEEP | BULLISH | 01/16/26 | $37.0 | $35.35 | $37.0 | $370.00 | $136.9K | 63 | 37 |
| AMGN | CALL | TRADE | BULLISH | 01/17/25 | $85.0 | $81.5 | $83.81 | $270.00 | $83.8K | 706 | 10 |
| AMGN | PUT | SWEEP | BEARISH | 10/18/24 | $9.1 | $7.9 | $9.15 | $325.00 | $64.7K | 556 | 71 |
| AMGN | CALL | SWEEP | BEARISH | 08/02/24 | $6.25 | $6.0 | $6.0 | $345.00 | $63.6K | 556 | 338 |
| AMGN | CALL | TRADE | BEARISH | 12/20/24 | $11.9 | $9.85 | $10.0 | $400.00 | $50.0K | 66 | 0 |
About Amgen
Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). The 2023 Horizon acquisition brings several rare-disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.
After a thorough review of the options trading surrounding Amgen, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Amgen's Current Market Status
- With a volume of 618,337, the price of AMGN is up 0.12% at $336.0.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 12 days.
Expert Opinions on Amgen
In the last month, 2 experts released ratings on this stock with an average target price of $321.5.
- Consistent in their evaluation, an analyst from Argus Research keeps a Buy rating on Amgen with a target price of $340.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on Amgen with a target price of $303.
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 Amgen options trades with real-time alerts from Benzinga Pro.