High-rolling investors have positioned themselves bearish on Novo Nordisk (NYSE:NVO), 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 NVO often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Novo Nordisk. This is not a typical pattern.
The sentiment among these major traders is split, with 33% bullish and 55% bearish. Among all the options we identified, there was one put, amounting to $25,200, and 8 calls, totaling $430,150.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $145.0 for Novo Nordisk over the last 3 months.
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 $145.0 over the preceding 30 days.
Novo Nordisk Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVO | CALL | TRADE | BEARISH | 01/17/25 | $38.8 | $38.5 | $38.5 | $100.00 | $77.0K | 1.3K | 20 |
| NVO | CALL | SWEEP | BEARISH | 11/15/24 | $7.15 | $7.05 | $7.05 | $140.00 | $70.5K | 673 | 17 |
| NVO | CALL | TRADE | BULLISH | 01/16/26 | $32.3 | $30.95 | $31.8 | $120.00 | $63.6K | 507 | 20 |
| NVO | CALL | SWEEP | NEUTRAL | 10/18/24 | $3.05 | $2.83 | $2.91 | $145.00 | $59.6K | 400 | 208 |
| NVO | CALL | TRADE | BULLISH | 01/16/26 | $29.0 | $28.2 | $29.0 | $125.00 | $58.0K | 588 | 0 |
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.
Novo Nordisk's Current Market Status
- With a volume of 1,618,827, the price of NVO is down -1.05% at $133.88.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 65 days.
Professional Analyst Ratings for Novo Nordisk
In the last month, 3 experts released ratings on this stock with an average target price of $160.0.
- Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for Novo Nordisk, targeting a price of $160.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $160.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $160.
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 Novo Nordisk with Benzinga Pro for real-time alerts.