Gilead Sciences's Options Frenzy: What You Need to Know
Deep-pocketed investors have adopted a bearish approach towards Gilead Sciences (NASDAQ:GILD), 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 GILD usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Gilead Sciences. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 53% bearish. Among these notable options, 2 are puts, totaling $133,873, and 11 are calls, amounting to $931,349.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $75.0 for Gilead Sciences over the recent three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Gilead Sciences's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Gilead Sciences's substantial trades, within a strike price spectrum from $50.0 to $75.0 over the preceding 30 days.
Gilead Sciences 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GILD | CALL | TRADE | NEUTRAL | 08/16/24 | $1.25 | $1.14 | $1.2 | $72.50 | $288.3K | 2.7K | 101 |
| GILD | CALL | SWEEP | BEARISH | 09/20/24 | $20.55 | $20.3 | $20.38 | $50.00 | $101.9K | 161 | 0 |
| GILD | PUT | SWEEP | BEARISH | 09/20/24 | $1.78 | $1.73 | $1.78 | $67.50 | $101.8K | 555 | 1 |
| GILD | CALL | TRADE | BEARISH | 09/20/24 | $20.4 | $20.1 | $20.2 | $50.00 | $101.0K | 161 | 99 |
| GILD | CALL | SWEEP | BEARISH | 09/20/24 | $20.5 | $20.3 | $20.32 | $50.00 | $99.5K | 161 | 50 |
About Gilead Sciences
Gilead Sciences develops and markets therapies to treat life-threatening infectious diseases, with the core of its portfolio focused on HIV and hepatitis B and C. The acquisitions of Corus Pharma, Myogen, CV Therapeutics, Arresto Biosciences, and Calistoga have broadened this focus to include pulmonary and cardiovascular diseases and cancer. Gilead's acquisition of Pharmasset brought rights to hepatitis C drug Sovaldi, which is also part of combination drug Harvoni, and the Kite, Forty Seven, and Immunomedics acquisitions boost Gilead's exposure to cell therapy and noncell therapy in oncology.
Following our analysis of the options activities associated with Gilead Sciences, we pivot to a closer look at the company's own performance.
Present Market Standing of Gilead Sciences
- Currently trading with a volume of 4,753,686, the GILD's price is down by -0.67%, now at $68.29.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 21 days.
What Analysts Are Saying About Gilead Sciences
4 market experts have recently issued ratings for this stock, with a consensus target price of $80.25.
- Reflecting concerns, an analyst from RBC Capital lowers its rating to Sector Perform with a new price target of $74.
- Reflecting concerns, an analyst from RBC Capital lowers its rating to Sector Perform with a new price target of $74.
- An analyst from Baird persists with their Neutral rating on Gilead Sciences, maintaining a target price of $80.
- An analyst from Raymond James has elevated its stance to Outperform, setting a new price target at $93.
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 Gilead Sciences, Benzinga Pro gives you real-time options trades alerts.