Illumina Unusual Options Activity For May 07
Portfolio Pulse from Benzinga Insights
Unusual options activity was detected for Illumina (NASDAQ:ILMN), with a predominantly bearish sentiment among big-money traders. A total of 8 options trades were spotted, with 7 puts and 1 call, indicating a bearish outlook. The trades suggest a price target range of $110.0 to $150.0 for Illumina. Current trading volume and price trends, along with analyst ratings, suggest mixed opinions on the stock's future performance.
May 07, 2024 | 4:45 pm
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NEGATIVE IMPACT
Illumina has seen unusual options activity indicating a bearish sentiment among investors, with a price target range of $110 to $150. Mixed analyst ratings and current market performance suggest uncertainty.
The bearish sentiment is evident from the options activity, with a significant amount of puts compared to calls. This, combined with mixed analyst ratings and a recent price drop, suggests a potential short-term downside. However, the wide target range and the presence of bullish sentiment in a small fraction of the trades introduce some uncertainty, hence the confidence score is not at the maximum.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100