Decoding AbbVie's Options Activity: What's the Big Picture?
Portfolio Pulse from Benzinga Insights
Recent options trading activity for AbbVie (NYSE:ABBV) shows a predominantly bearish sentiment among investors, with 69% of detected trades being bearish and 30% bullish. The trades span a price window from $135.0 to $210.0. Notable bearish activity includes calls with strike prices at $185, $190, and $165, while a bullish sweep was observed for a $160 strike price call. AbbVie, a pharmaceutical company with significant stakes in immunology and oncology, saw its stock price slightly increase by 0.27% to $180.35, with potential overbought signals from RSI indicators.
March 14, 2024 | 5:16 pm
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AbbVie's recent options trading activity indicates a bearish sentiment among investors, with a significant focus on calls within the $135-$210 range. The stock's slight increase and potential overbought status may influence short-term price movements.
The bearish sentiment in options trading, especially with the high volume of bearish calls, suggests that investors are expecting a price decline. This, combined with the stock nearing overbought territory, could lead to a short-term decrease in ABBV's stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100