High-rolling investors have positioned themselves bearish on AbbVie (NYSE:ABBV), 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 ABBV often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for AbbVie. This is not a typical pattern.
The sentiment among these major traders is split, with 25% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $32,558, and 7 calls, totaling $350,955.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $140.0 to $180.0 for AbbVie during the past quarter.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for AbbVie's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across AbbVie's significant trades, within a strike price range of $140.0 to $180.0, over the past month.
AbbVie 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ABBV | CALL | SWEEP | BEARISH | 07/19/24 | $9.65 | $9.0 | $9.08 | $160.00 | $118.1K | 1.3K | 0 |
| ABBV | CALL | TRADE | BEARISH | 03/21/25 | $12.9 | $12.65 | $12.65 | $170.00 | $59.4K | 203 | 3 |
| ABBV | CALL | SWEEP | BULLISH | 09/20/24 | $4.1 | $4.1 | $4.1 | $175.00 | $41.4K | 3.1K | 1 |
| ABBV | CALL | TRADE | NEUTRAL | 03/21/25 | $13.2 | $11.85 | $12.5 | $170.00 | $41.2K | 203 | 57 |
| ABBV | PUT | SWEEP | BEARISH | 07/19/24 | $1.46 | $1.44 | $1.45 | $165.00 | $32.5K | 4.0K | 20 |
About AbbVie
AbbVie is a pharmaceutical firm with a strong exposure to immunology (with Humira, Skyrizi, and Rinvoq) and oncology (with Imbruvica and Venclexta). The company was spun off from Abbott in early 2013. The 2020 acquisition of Allergan added several new products and drugs in aesthetics (including Botox).
After a thorough review of the options trading surrounding AbbVie, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is AbbVie Standing Right Now?
- Currently trading with a volume of 1,080,843, the ABBV's price is down by -1.3%, now at $168.93.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 28 days.
Expert Opinions on AbbVie
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $191.66666666666666.
- An analyst from Piper Sandler persists with their Overweight rating on AbbVie, maintaining a target price of $190.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $200.
- An analyst from HSBC has elevated its stance to Buy, setting a new price target at $185.
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.