Market Whales and Their Recent Bets on NVO Options

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

Novo Nordisk A/S Sponsored ADR Class B

NVO

131.89

-0.86%

Whales with a lot of money to spend have taken a noticeably bullish stance on Novo Nordisk.

Looking at options history for Novo Nordisk (NYSE:NVO) we detected 20 trades.

If we consider the specifics of each trade, it is accurate to state that 55% of the investors opened trades with bullish expectations and 45% with bearish.

From the overall spotted trades, 8 are puts, for a total amount of $378,359 and 12, calls, for a total amount of $862,840.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $52.5 to $130.0 for Novo Nordisk over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Novo Nordisk stands at 1035.06, with a total volume reaching 7,800.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Novo Nordisk, situated within the strike price corridor from $52.5 to $130.0, throughout the last 30 days.

Novo Nordisk Option Activity Analysis: Last 30 Days

Options Call Chart

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
NVO CALL SWEEP BULLISH 03/15/24 $52.50 $226.8K 43 40
NVO CALL TRADE BEARISH 01/17/25 $55.00 $222.0K 6 40
NVO PUT SWEEP BEARISH 02/02/24 $107.00 $93.5K 770 1
NVO PUT SWEEP BEARISH 01/17/25 $97.50 $88.6K 341 143
NVO CALL TRADE NEUTRAL 01/17/25 $75.00 $76.2K 285 20

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.

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

Where Is Novo Nordisk Standing Right Now?

  • Trading volume stands at 3,379,839, with NVO's price up by 0.19%, positioned at $109.23.
  • RSI indicators show the stock to be may be approaching overbought.
  • Earnings announcement expected in 1 days.

Expert Opinions on Novo Nordisk

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $120.0.

  • An analyst from Morgan Stanley downgraded its action to Overweight with a price target of $120.

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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