Whales with a lot of money to spend have taken a noticeably bullish stance on AbbVie.
Looking at options history for AbbVie (NYSE:ABBV) we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $315,800 and 10, calls, for a total amount of $347,600.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $170.0 to $230.0 for AbbVie over the recent three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of AbbVie stands at 2746.5, with a total volume reaching 2,563.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in AbbVie, situated within the strike price corridor from $170.0 to $230.0, throughout the last 30 days.
AbbVie Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ABBV | PUT | SWEEP | BEARISH | 09/20/24 | $2.84 | $2.39 | $2.75 | $195.00 | $272.9K | 432 | 1.0K |
| ABBV | CALL | TRADE | NEUTRAL | 01/17/25 | $10.25 | $9.7 | $9.95 | $200.00 | $69.6K | 7.1K | 6 |
| ABBV | PUT | TRADE | BULLISH | 01/16/26 | $21.9 | $21.3 | $21.45 | $200.00 | $42.9K | 67 | 20 |
| ABBV | CALL | SWEEP | BULLISH | 01/17/25 | $1.8 | $1.72 | $1.8 | $230.00 | $36.0K | 445 | 202 |
| ABBV | CALL | TRADE | NEUTRAL | 01/17/25 | $10.15 | $9.95 | $10.05 | $200.00 | $35.1K | 7.1K | 548 |
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).
Current Position of AbbVie
- With a volume of 1,597,221, the price of ABBV is down -0.08% at $197.4.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 60 days.
Expert Opinions on AbbVie
In the last month, 3 experts released ratings on this stock with an average target price of $209.0.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for AbbVie, targeting a price of $209.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $200.
- An analyst from Morgan Stanley persists with their Overweight rating on AbbVie, maintaining a target price of $218.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for AbbVie with Benzinga Pro for real-time alerts.