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Amgen Unusual Options Activity

Author: Benzinga Insights | May 17, 2024 03:16pm

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 40%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $232,746, and 5 are calls, for a total amount of $188,723.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $280.0 and $325.0 for Amgen, spanning the last three months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Amgen's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Amgen's significant trades, within a strike price range of $280.0 to $325.0, over the past month.

Amgen Option Activity Analysis: Last 30 Days

Options Call Chart

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 06/20/25 $19.55 $18.8 $18.91 $280.00 $73.6K 98 45
AMGN PUT SWEEP BULLISH 06/20/25 $19.3 $18.75 $18.85 $280.00 $60.2K 98 79
AMGN CALL TRADE NEUTRAL 01/16/26 $54.0 $50.5 $52.0 $300.00 $52.0K 109 10
AMGN CALL SWEEP BEARISH 05/31/24 $4.95 $4.9 $4.9 $310.00 $49.0K 154 110
AMGN PUT TRADE BULLISH 07/19/24 $12.2 $12.1 $12.1 $320.00 $36.3K 139 32

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.

In light of the recent options history for Amgen, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is Amgen Standing Right Now?

  • Trading volume stands at 1,124,116, with AMGN's price up by 0.16%, positioned at $315.22.
  • RSI indicators show the stock to be may be overbought.
  • Earnings announcement expected in 76 days.

Professional Analyst Ratings for Amgen

In the last month, 5 experts released ratings on this stock with an average target price of $296.0.

  • An analyst from Mizuho persists with their Neutral rating on Amgen, maintaining a target price of $235.
  • Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on Amgen with a target price of $310.
  • An analyst from RBC Capital persists with their Outperform rating on Amgen, maintaining a target price of $328.
  • Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Amgen, targeting a price of $307.
  • Showing optimism, an analyst from Barclays upgrades its rating to Equal-Weight with a revised price target of $300.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Amgen options trades with real-time alerts from Benzinga Pro.

Posted In: AMGN

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