Amgen Unusual Options Activity For February 12

Deep-pocketed investors have adopted a bearish approach towards Amgen AMGN, 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 AMGN usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga’s options scanner highlighted 9 extraordinary options activities for Amgen. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 6 are puts, totaling $210,150, and 3 are calls, amounting to $161,431.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $280.0 to $305.0 for Amgen over the last 3 months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Amgen options trades today is 448.17 with a total volume of 924.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Amgen’s big money trades within a strike price range of $280.0 to $305.0 over the last 30 days.

Amgen Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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.

Having examined the options trading patterns of Amgen, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of Amgen

• With a volume of 1,356,099, the price of AMGN is down -0.63% at $294.81.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 78 days.

What Analysts Are Saying About Amgen

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $305.75.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge’s Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
* Maintaining their stance, an analyst from B of A Securities continues to hold a Underperform rating for Amgen, targeting a price of $275.
* Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Amgen with a target price of $295.
* An analyst from RBC Capital downgraded its action to Outperform with a price target of $324.
* An analyst from Piper Sandler persists with their Overweight rating on Amgen, maintaining a target price of $329.

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.