Check Out What Whales Are Doing With AMGN
Investors with a lot of money to spend have taken a bullish stance on Amgen (NASDAQ:AMGN).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AMGN, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 10 uncommon options trades for Amgen.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 20%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $1,025,291, and 3 are calls, for a total amount of $209,800.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $260.0 to $430.0 for Amgen over the recent three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Amgen's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Amgen's whale trades within a strike price range from $260.0 to $430.0 in the last 30 days.
Amgen Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMGN | PUT | SWEEP | BULLISH | 12/20/24 | $17.35 | $16.25 | $16.3 | $310.00 | $408.7K | 1.5K | 251 |
| AMGN | PUT | SWEEP | BULLISH | 12/20/24 | $17.35 | $16.1 | $16.25 | $310.00 | $407.4K | 1.5K | 0 |
| AMGN | CALL | TRADE | NEUTRAL | 01/17/25 | $6.0 | $4.4 | $5.25 | $400.00 | $105.0K | 1.2K | 1 |
| AMGN | CALL | SWEEP | BULLISH | 09/20/24 | $17.0 | $16.6 | $17.0 | $320.00 | $66.3K | 879 | 18 |
| AMGN | PUT | SWEEP | BEARISH | 01/16/26 | $13.95 | $11.15 | $12.75 | $260.00 | $63.7K | 94 | 0 |
About Amgen
Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). The 2023 Horizon acquisition brings several rare-disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.
Following our analysis of the options activities associated with Amgen, we pivot to a closer look at the company's own performance.
Where Is Amgen Standing Right Now?
- With a trading volume of 970,003, the price of AMGN is up by 1.17%, reaching $325.42.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 21 days from now.
Expert Opinions on Amgen
3 market experts have recently issued ratings for this stock, with a consensus target price of $325.0.
- An analyst from Argus Research persists with their Buy rating on Amgen, maintaining a target price of $340.
- An analyst from RBC Capital has decided to maintain their Outperform rating on Amgen, which currently sits at a price target of $332.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Amgen, targeting a price of $303.
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 Amgen with Benzinga Pro for real-time alerts.