Unpacking the Latest Options Trading Trends in Johnson & Johnson
Portfolio Pulse from Benzinga Insights
Significant bearish options activity has been detected in Johnson & Johnson (NYSE:JNJ), with a sentiment split of 12% bullish and 87% bearish among big-money traders. Unusual options trades were spotted, with 2 puts and 6 calls totaling $401,093. Projected price targets range from $100 to $155. The company is preparing to divest its consumer group under the name Kenvue in 2023. JNJ's current stock price is $156.04, with neutral RSI indicators and an earnings announcement expected in 25 days. Analyst ratings vary, with an average target price of $175.5.
December 29, 2023 | 5:46 pm
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NEUTRAL IMPACT
Bearish options activity and mixed analyst ratings suggest uncertainty for JNJ's short-term price movement. Divestiture of the consumer group and upcoming earnings are key factors to watch.
The bearish options activity indicates that some investors are expecting a price decline, but the mixed analyst ratings and the upcoming earnings report could create volatility. The divestiture of the consumer group adds to the uncertainty, making it difficult to predict the short-term price direction with high confidence.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100