Deep-pocketed investors have adopted a bullish approach towards AbbVie (NYSE:ABBV), 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 ABBV 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 AbbVie. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 2 are puts, totaling $109,500, and 6 are calls, amounting to $402,314.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $150.0 to $195.0 for AbbVie over the recent three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in AbbVie's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to AbbVie's substantial trades, within a strike price spectrum from $150.0 to $195.0 over the preceding 30 days.
AbbVie Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ABBV | CALL | TRADE | BEARISH | 11/15/24 | $14.95 | $14.65 | $14.65 | $180.00 | $99.6K | 1.6K | 69 |
| ABBV | CALL | TRADE | BULLISH | 10/11/24 | $12.85 | $12.05 | $12.61 | $180.00 | $87.0K | 76 | 69 |
| ABBV | CALL | TRADE | BEARISH | 01/16/26 | $28.2 | $27.9 | $27.9 | $180.00 | $80.9K | 408 | 29 |
| ABBV | PUT | TRADE | BEARISH | 02/21/25 | $11.45 | $10.1 | $11.45 | $195.00 | $68.7K | 598 | 0 |
| ABBV | CALL | SWEEP | BULLISH | 11/15/24 | $5.75 | $5.65 | $5.75 | $195.00 | $63.8K | 3.0K | 200 |
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).
Having examined the options trading patterns of AbbVie, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is AbbVie Standing Right Now?
- Trading volume stands at 729,519, with ABBV's price up by 0.12%, positioned at $193.25.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 21 days.
Professional Analyst Ratings for AbbVie
2 market experts have recently issued ratings for this stock, with a consensus target price of $218.5.
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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.
