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Benzinga Insights

AbbVie Whale Trades Spotted

Someone with a lot of money to spend has taken a bullish stance on AbbVie (NYSE:ABBV).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with ABBV, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for AbbVie.

This isn't normal.

The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $298,532, and 7 are calls, for a total amount of $248,761.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $140.0 to $165.0 for AbbVie over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for AbbVie options trades today is 1399.25 with a total volume of 5,581.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for AbbVie's big money trades within a strike price range of $140.0 to $165.0 over the last 30 days.

AbbVie Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
ABBV PUT TRADE BULLISH 01/19/24 $150.00 $190.8K 149 90
ABBV PUT SWEEP BEARISH 06/17/22 $140.00 $64.2K 1.6K 475
ABBV CALL SWEEP BEARISH 06/03/22 $155.00 $55.1K 1.1K 404
ABBV PUT SWEEP BEARISH 06/03/22 $145.00 $43.4K 979 550
ABBV CALL SWEEP BEARISH 06/17/22 $155.00 $43.2K 5.1K 526

Where Is AbbVie Standing Right Now?

  • With a volume of 5,849,546, the price of ABBV is down -0.43% at $151.77.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 71 days.

What The Experts Say On AbbVie:

  • Wells Fargo has decided to maintain their Overweight rating on AbbVie, which currently sits at a price target of $200.
  • BMO Capital has decided to maintain their Outperform rating on AbbVie, which currently sits at a price target of $174.
  • Morgan Stanley has decided to maintain their Overweight rating on AbbVie, which currently sits at a price target of $188.

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.

If you want to stay updated on the latest options trades for {d[company_name]}, Benzinga Progives you real-time options trades alerts.

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