Deep-pocketed investors have adopted a bearish 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 8 extraordinary options activities for Amgen. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 62% bearish. Among these notable options, 6 are puts, totaling $287,160, and 2 are calls, amounting to $67,000.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $315.0 and $355.0 for Amgen, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Amgen'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 Amgen's whale activity within a strike price range from $315.0 to $355.0 in the last 30 days.
Amgen Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMGN | PUT | SWEEP | BEARISH | 10/18/24 | $12.5 | $12.4 | $12.5 | $325.00 | $67.4K | 789 | 98 |
| AMGN | PUT | TRADE | BEARISH | 01/16/26 | $31.75 | $30.3 | $31.75 | $320.00 | $63.5K | 162 | 25 |
| AMGN | PUT | TRADE | BEARISH | 03/21/25 | $30.55 | $30.5 | $30.55 | $340.00 | $61.1K | 2 | 20 |
| AMGN | PUT | TRADE | BEARISH | 10/18/24 | $14.45 | $14.45 | $14.45 | $330.00 | $36.1K | 253 | 50 |
| AMGN | CALL | SWEEP | BULLISH | 08/09/24 | $3.45 | $2.57 | $3.45 | $355.00 | $34.5K | 16 | 100 |
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.
Current Position of Amgen
- Currently trading with a volume of 164,369, the AMGN's price is down by -0.04%, now at $334.17.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 11 days.
Expert Opinions on Amgen
2 market experts have recently issued ratings for this stock, with a consensus target price of $321.5.
- An analyst from Argus Research has decided to maintain their Buy rating on Amgen, which currently sits at a price target of $340.
- An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Amgen, which currently sits at a price target of $303.
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.