Investors with a lot of money to spend have taken a bullish stance on Abbott Laboratories ABT.
And retail traders should know.
We noticed this today when the positions 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 ABT, it often means somebody knows something is about to happen.
Today, Benzinga’s options scanner spotted 9 options trades for Abbott Laboratories.
This isn’t normal.
The overall sentiment of these big-money traders is split between 88% bullish and 11%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $57,984, and 8, calls, for a total amount of $574,080.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $95.0 to $125.0 for Abbott Laboratories during the past quarter.
Volume & Open Interest Development
In today’s trading context, the average open interest for options of Abbott Laboratories stands at 509.33, with a total volume reaching 668.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Abbott Laboratories, situated within the strike price corridor from $95.0 to $125.0, throughout the last 30 days.
Abbott Laboratories Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ABT | CALL | TRADE | BULLISH | 05/17/24 | $95.00 | $112.8K | 676 | 259 |
| ABT | CALL | TRADE | BULLISH | 05/17/24 | $95.00 | $86.9K | 676 | 151 |
| ABT | CALL | TRADE | BULLISH | 05/17/24 | $95.00 | $81.6K | 676 | 151 |
| ABT | CALL | TRADE | BULLISH | 05/17/24 | $95.00 | $81.2K | 676 | 57 |
| ABT | CALL | TRADE | BULLISH | 05/17/24 | $95.00 | $71.8K | 676 | 97 |
About Abbott Laboratories
Abbott manufactures and markets cardiovascular and diabetes devices, adult and pediatric nutritional products, diagnostic equipment and testing kits, and branded generic drugs. Products include pacemakers, implantable cardioverter defibrillators, neuromodulation devices, coronary stents, catheters, infant formula, nutritional liquids for adults, continuous glucose monitors, and immunoassays and point-of-care diagnostic equipment. Abbott derives approximately 60% of sales outside the United States.
Having examined the options trading patterns of Abbott Laboratories, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Abbott Laboratories Standing Right Now?
- Trading volume stands at 1,568,293, with ABT’s price up by 0.12%, positioned at $113.45.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 69 days.
What Analysts Are Saying About Abbott Laboratories
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $130.0.
- An analyst from Citigroup has decided to maintain their Buy rating on Abbott Laboratories, which currently sits at a price target of $126.
- An analyst from RBC Capital downgraded its action to Outperform with a price target of $128.
- An analyst from Barclays has decided to maintain their Overweight rating on Abbott Laboratories, which currently sits at a price target of $141.
- Consistent in their evaluation, an analyst from Raymond James keeps a Outperform rating on Abbott Laboratories with a target price of $127.
- An analyst from RBC Capital persists with their Outperform rating on Abbott Laboratories, maintaining a target price of $128.
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 Abbott Laboratories with Benzinga Pro for real-time alerts.
Image and article originally from www.benzinga.com. Read the original article here.