Smart Money Is Betting Big In AMGN Options
Portfolio Pulse from Benzinga Insights
Investors with significant capital have taken a predominantly bearish stance on Amgen (NASDAQ:AMGN) through options trading. Benzinga's options scanner identified 27 unusual options trades, with 55% being bearish. The trading activity suggests a price range of $230.0 to $340.0 for AMGN over the next three months. The current market price is $319.24, and the stock appears overbought based on RSI values.
June 25, 2024 | 4:16 pm
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Significant investors are taking a bearish stance on Amgen (NASDAQ:AMGN) through options trading, with 55% of trades being bearish. The predicted price range is $230.0 to $340.0 over the next three months. The stock is currently trading at $319.24 and appears overbought based on RSI values.
The significant bearish sentiment from large investors, as indicated by the options trades, suggests a potential downward pressure on AMGN's stock price in the short term. The current overbought status based on RSI values further supports this outlook.
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