Benzinga | Jan 21, 2022 03:33PM EST

This Is What Whales Are Betting On AbbVie

A whale with a lot of money to spend has taken a noticeably bearish stance on AbbVie.

Looking at options history for AbbVie (NYSE:ABBV) we detected 19 strange trades.

If we consider the specifics of each trade, it is accurate to state that 31% of the investors opened trades with bullish expectations and 68% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $301,337 and 12, calls, for a total amount of $470,101.

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 $80.0 to $150.0 for AbbVie over the last 3 months.

Volume & Open Interest Development

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 AbbVie'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 AbbVie's whale trades within a strike price range from $80.0 to $150.0 in the last 30 days.

AbbVie Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestABBV PUT SWEEP BEARISH 05/20/ $120.00 $93.0K 1.0K 300 22ABBV CALL SWEEP BULLISH 01/20/ $150.00 $61.0K 4.3K 247 23ABBV CALL TRADE BEARISH 06/17/ $140.00 $60.7K 6.0K 164 22ABBV CALL TRADE BULLISH 01/21/ $80.00 $53.5K 61 10 22ABBV PUT SWEEP BEARISH 01/20/ $125.00 $52.0K 2.4K 98 23

Where Is AbbVie Standing Right Now?

* With a volume of 4,472,932, the price of ABBV is down -0.83% at $131.93.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 12 days.

What The Experts Say On AbbVie:

* BMO Capital has decided to maintain their Outperform rating on AbbVie, which currently sits at a price target of $153.

* Mizuho has decided to maintain their Buy rating on AbbVie, which currently sits at a price target of $154.

* Barclays has decided to maintain their Equal-Weight rating on AbbVie, which currently sits at a price target of $133.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.