Smart Money Is Betting Big In JNJ Options
Portfolio Pulse from Benzinga Insights
Financial analysts have observed significant bullish activity in Johnson & Johnson (NYSE:JNJ) options, with 75% of trades being bullish. The options activity suggests a target price range of $120 to $165. Recent options trades include both bullish puts and bearish calls, with notable trades aiming for strike prices of $150 and $165. Johnson & Johnson, a leading healthcare firm, has seen its stock price increase by 0.4% to $160.48, with analysts setting an average price target of $203.67. The company is approaching its next earnings release in 42 days, amidst indications of being potentially overbought.
March 05, 2024 | 6:17 pm
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Significant bullish options activity observed in JNJ, with a target price range of $120-$165. Stock price currently at $160.48, with analysts setting an average target of $203.67. The company is preparing for its next earnings release in 42 days.
The bullish options activity, combined with the stock's current upward movement and the analysts' optimistic price targets, suggests a positive short-term outlook for JNJ. However, the mention of the stock potentially being overbought could introduce some volatility. The upcoming earnings release will be a critical event to watch.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100