Johnson & Johnson Unusual Options Activity For March 08
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown a bearish sentiment towards Johnson & Johnson (JNJ), with unusual options activity detected. Benzinga's options scanner revealed 13 extraordinary activities, with a nearly even split between bullish and bearish sentiments. Significant trades aim for a price range of $125.0 to $165.0 for JNJ over the next three months. The largest options trades include both calls and puts with varying sentiments and strike prices. JNJ's current market standing shows a slight price increase with a potential overbought RSI indicator. Analysts have revised their ratings and price targets for JNJ, with an average target price of $198.0.
March 08, 2024 | 7:01 pm
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Unusual options activity and analyst rating adjustments indicate mixed sentiments towards JNJ, with a bearish tilt among investors but an optimistic analyst target price of $198.
The bearish sentiment from options activity contrasts with the bullish analyst target prices, creating uncertainty. The significant options activity suggests investors are preparing for potential price movements within the $125-$165 range, while analysts see longer-term value, setting an average target price of $198. This divergence presents a nuanced outlook for JNJ, with short-term bearish pressures potentially balanced by longer-term optimism from analysts.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100