A whale with a lot of money to spend has taken a noticeably bullish stance on AbbVie.
Looking at options history for AbbVie (NYSE:ABBV) we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $57,000 and 8, calls, for a total amount of $279,621.
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 $130.0 to $155.0 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 1546.33 with a total volume of 3,552.00.
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 $130.0 to $155.0 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 | CALL | TRADE | BEARISH | 05/20/22 | $150.00 | $54.8K | 2.6K | 605 |
| ABBV | CALL | SWEEP | BEARISH | 05/20/22 | $150.00 | $54.8K | 2.6K | 405 |
| ABBV | CALL | SWEEP | BULLISH | 05/20/22 | $150.00 | $32.0K | 2.6K | 804 |
| ABBV | PUT | TRADE | BEARISH | 08/19/22 | $140.00 | $31.5K | 429 | 47 |
| ABBV | CALL | SWEEP | BULLISH | 06/03/22 | $145.00 | $29.2K | 227 | 61 |
Where Is AbbVie Standing Right Now?
- With a volume of 4,319,327, the price of ABBV is up 0.47% at $147.57.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 88 days.
What The Experts Say On AbbVie:
- Goldman Sachs has decided to maintain their Neutral rating on AbbVie, which currently sits at a price target of $140.
- Barclays has decided to maintain their Equal-Weight rating on AbbVie, which currently sits at a price target of $174.
- Wells Fargo has decided to maintain their Overweight rating on AbbVie, which currently sits at a price target of $200.
- Morgan Stanley has decided to maintain their Overweight rating on AbbVie, which currently sits at a price target of $188.
- Morgan Stanley has decided to maintain their Overweight rating on AbbVie, which currently sits at a price target of $192.
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.
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