What the Options Market Tells Us About Abbott Laboratories
Portfolio Pulse from Benzinga Insights
Financial analysis of Abbott Laboratories (NYSE:ABT) options market reveals a bearish sentiment among traders, with 94% showing bearish tendencies and only 5% bullish. The analysis highlighted unusual trades, including 3 puts and 16 calls, with a focus on a price window from $90.0 to $105.0. The current stock price of ABT is up 0.85% at $113.4, with RSI indicators suggesting it may be approaching oversold territory. Next earnings are expected in 29 days.
March 19, 2024 | 2:16 pm
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NEGATIVE IMPACT
Bearish sentiment in options market with a significant number of traders expecting a price window of $90-$105. Current stock price is $113.4, with potential oversold conditions indicated by RSI.
The overwhelming bearish sentiment in the options market, combined with the current stock price exceeding the bearish price window, suggests a potential short-term downside. The anticipation of earnings in 29 days adds to the uncertainty, potentially impacting the stock's short-term performance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100