AbbVie Unusual Options Activity For July 12
Portfolio Pulse from Benzinga Insights
A significant bearish stance on AbbVie (NYSE:ABBV) has been observed through unusual options activity. The sentiment among big-money traders is split between 40% bullish and 60% bearish. The whales have been targeting a price range from $100.0 to $160.0 for AbbVie over the last 3 months. Morgan Stanley has downgraded its action to Overweight with a price target of $182.
July 12, 2023 | 6:19 pm
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Unusual options activity indicates a bearish sentiment on AbbVie. The company's stock price may be affected in the short term.
The unusual options activity, with a significant bearish sentiment, indicates that investors are expecting a potential decrease in AbbVie's stock price. This could be due to various factors such as market trends, company performance, or external events. The fact that this activity is unusual means it's not part of the regular trading pattern, which increases its significance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100