Looking At Novartis's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A whale has taken a bearish stance on Novartis (NYSE:NVS), with 70% of recent unusual options activity being bearish. The targeted price range for Novartis over the last 3 months is $92.5 to $105.0. The stock is currently up 0.71% at $96.93, and RSI indicators suggest it may be oversold.
June 01, 2023 | 5:48 pm
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NEGATIVE IMPACT
A whale has taken a bearish stance on Novartis, with 70% of recent unusual options activity being bearish. The stock is currently up 0.71% at $96.93, and RSI indicators suggest it may be oversold.
The bearish stance taken by a whale with a significant amount of money to spend indicates a potential negative impact on Novartis' stock price in the short term. The fact that 70% of the unusual options activity is bearish suggests that there is a strong sentiment among these investors that the stock price will decline. Additionally, the RSI indicators hinting at the stock being oversold further supports the likelihood of a negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100