Deep-pocketed investors have taken a bullish approach to Amgen AMGN, and it is something that market participants should not ignore. Our tracking of public options records at Benzinga revealed this significant move today. The identity of these investors remains unknown, but such substantial movement 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 outstanding options activity for Amgen. This level of activity is out of the ordinary.
The overall mood among these large investors is divided, with 77% trending bullish and 22% trending bearish. Among these notable options, 3 are puts, totaling $302,209, and 6 are calls, totaling $191,492.
Expected price targets
After evaluating trading volumes and Open Interest, it is evident that major market movers are focusing on a price range between $240.0 and $320.0 for Amgen, over the past three months.
Volume and open interest analysis
Looking at volume and open interest is a smart way to conduct due diligence on a stock.
This data can help you track liquidity and interest in Amgen options for a given strike price.
Below, we can observe the evolution of volume and open interest of calls and puts respectively for all of Amgen’s whale business within a strike price range of $240.0 to $320.0 in the last 30 days.
Amgen Call and Put Volume: 30-Day Overview
Largest options trades observed:
| Symbol | PUT/CALL | Type of trade | Feeling | Exp. Date | Ask | Offer | Price | Strike price | Total commercial price | Open interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMGN | PUT | SWEEP | BEARISH | 08/16/24 | $24.6 | $24.35 | $24.6 | $300.00 | $221.4K | 67 | 112 |
| AMGN | CALL | TRADE | BULLISH | 04/05/24 | $11.7 | $11.15 | $11.7 | $277.50 | $43.2k | 58 | 1 |
| AMGN | PUT | SWEEP | BEARISH | 07/19/24 | $13.85 | $13.8 | $13.85 | $285.00 | $42.9K | 314 | 33 |
| AMGN | CALL | SWEEP | BULLISH | 01/17/25 | $15.0 | $14.1 | $15.0 | $320.00 | $39.0K | 3.0K | 26 |
| AMGN | PUT | SWEEP | BULLISH | 09/20/24 | $20.2 | $19.85 | $20.0 | $290.00 | $37.8k | 110 | 36 |
About Amgen
Amgen is a leader in biotechnology-based human therapies. Leading drugs include Epogen and Aranesp, red blood cell stimulators, Neupogen and Neulasta, immune system stimulators, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer drug, Vectibix, in 2006 and markets the bone-strengthening drug Prolia/Xgeva (approved in 2010) and Evenity (2019). The acquisition of Onyx strengthened the company’s therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (for lowering cholesterol), Aimovig (migraines), Lumakras (lung cancer) and Tezspire (asthma). Horizon’s 2023 acquisition brings with it several rare disease drugs, including the thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.
After reviewing Amgen’s options trading models, our attention now turns directly to the company. This move allows us to delve deeper into its current market position and performance
Where is Amgen right now?
- On volume of 481,114, AMGN price fell -0.14% to $285.91.
- RSI indicators suggest that the underlying stock may be approaching overbought.
- The next earnings are expected to be released in 28 days.
Options trading involves higher risks but also offers the potential for higher profits. More experienced traders mitigate these risks through ongoing education, strategic trading adjustments, use of various indicators, and compliance with market dynamics. Stay on top of the latest Amgen options trades with Benzinga Pro for real-time alerts.