What the Options Market Tells Us About Novo Nordisk
What the Options Market Tells Us About Novo Nordisk
Financial giants have made a conspicuous bearish move on Novo Nordisk. Our analysis of options history for Novo Nordisk (NYSE:NVO) revealed 14 unusual trades.
Delving into the details, we found 35% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $210,005, and 9 were calls, valued at $379,290.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $105.0 to $111.0 for Novo Nordisk over the last 3 months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Novo Nordisk's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Novo Nordisk's significant trades, within a strike price range of $105.0 to $111.0, over the past month.
Novo Nordisk 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVO | CALL | SWEEP | NEUTRAL | 12/13/24 | $5.6 | $5.05 | $5.29 | $105.00 | $159.0K | 171 | 300 |
| NVO | PUT | TRADE | NEUTRAL | 12/20/24 | $8.35 | $8.0 | $8.2 | $110.00 | $42.6K | 7.0K | 273 |
| NVO | PUT | TRADE | BULLISH | 12/20/24 | $8.2 | $8.1 | $8.1 | $110.00 | $42.1K | 7.0K | 116 |
| NVO | PUT | TRADE | BULLISH | 12/20/24 | $8.2 | $8.1 | $8.1 | $110.00 | $42.1K | 7.0K | 64 |
| NVO | PUT | TRADE | BULLISH | 12/20/24 | $7.7 | $7.5 | $7.5 | $109.00 | $42.0K | 351 | 56 |
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.
Where Is Novo Nordisk Standing Right Now?
- Trading volume stands at 358,592, with NVO's price down by -0.65%, positioned at $105.44.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 61 days.
Expert Opinions on Novo Nordisk
1 market experts have recently issued ratings for this stock, with a consensus target price of $160.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.* An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $160.
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.
