Decoding Novo Nordisk's Options Activity: What's the Big Picture?

Novo Nordisk A/S Sponsored ADR Class B -0.86%

Novo Nordisk A/S Sponsored ADR Class B




Deep-pocketed investors have adopted a bullish approach towards Novo Nordisk (NYSE:NVO), 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 NVO usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 21 extraordinary options activities for Novo Nordisk. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 71% leaning bullish and 19% bearish. Among these notable options, 4 are puts, totaling $206,445, and 17 are calls, amounting to $1,195,302.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $97.5 to $150.0 for Novo Nordisk over the recent three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Novo Nordisk options trades today is 1993.72 with a total volume of 2,923.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Novo Nordisk's big money trades within a strike price range of $97.5 to $150.0 over the last 30 days.

Novo Nordisk Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
NVO CALL SWEEP BULLISH 01/17/25 $14.8 $14.35 $14.8 $130.00 $371.2K 2.3K 0
NVO CALL SWEEP BULLISH 01/17/25 $7.5 $7.35 $7.5 $150.00 $262.5K 2.0K 383
NVO PUT SWEEP BULLISH 01/17/25 $2.51 $2.38 $2.38 $97.50 $107.1K 770 450
NVO CALL SWEEP BULLISH 05/17/24 $5.85 $5.65 $5.85 $125.00 $58.5K 1.3K 101
NVO CALL SWEEP BEARISH 07/19/24 $1.66 $1.58 $1.58 $150.00 $54.6K 1.4K 349

About Novo Nordisk

With roughly one third of the global branded diabetes treatment market, Novo Nordisk is the leading provider of diabetes-care products in the world. Based in Denmark, the company manufactures and markets a variety of human and modern insulins, injectable diabetes treatments such as GLP-1 therapy, oral antidiabetic agents, and obesity treatments. Novo also has a biopharmaceutical segment (constituting roughly 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.

After a thorough review of the options trading surrounding Novo Nordisk, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Novo Nordisk

  • Currently trading with a volume of 1,266,034, the NVO's price is down by -0.01%, now at $126.84.
  • RSI readings suggest the stock is currently may be approaching overbought.
  • Anticipated earnings release is in 3 days.

Professional Analyst Ratings for Novo Nordisk

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $160.75.

  • An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $160.
  • An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $160.
  • In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $160.
  • Reflecting concerns, an analyst from BMO Capital lowers its rating to Outperform with a new price target of $163.

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 Novo Nordisk options trades with real-time alerts from Benzinga Pro.

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