Investors with a lot of money to spend have taken a bearish stance on Biogen (NASDAQ:BIIB).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with BIIB, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 9 uncommon options trades for Biogen.
This isn't normal.
The overall sentiment of these big-money traders is split between 22% bullish and 66%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $198,898, and 4 are calls, for a total amount of $138,060.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $130.0 to $200.0 for Biogen over the last 3 months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Biogen's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Biogen's substantial trades, within a strike price spectrum from $130.0 to $200.0 over the preceding 30 days.
Biogen Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BIIB | PUT | TRADE | BEARISH | 11/22/24 | $2.35 | $1.35 | $2.0 | $155.00 | $60.0K | 1.5K | 663 |
| BIIB | CALL | TRADE | BEARISH | 04/17/25 | $22.6 | $18.3 | $19.32 | $150.00 | $48.3K | 0 | 25 |
| BIIB | PUT | TRADE | BULLISH | 12/20/24 | $29.6 | $21.7 | $24.0 | $180.00 | $48.0K | 111 | 20 |
| BIIB | CALL | SWEEP | BULLISH | 04/17/25 | $8.6 | $7.8 | $8.6 | $175.00 | $35.2K | 19 | 4 |
| BIIB | PUT | SWEEP | BEARISH | 11/22/24 | $2.1 | $1.55 | $2.09 | $155.00 | $33.5K | 1.5K | 0 |
About Biogen
Biogen and Idec merged in 2003, combining forces to market Biogen's multiple sclerosis drug Avonex and Idec's cancer drug Rituxan. Today, Rituxan and next-generation antibody Gazyva (oncology) and Ocrevus (multiple sclerosis) are marketed via a collaboration with Roche. Biogen markets several multiple sclerosis drugs including Plegridy, Tysabri, Tecfidera, and Vumerity. Biogen's newer products include Spinraza (SMA, with partner Ionis), Leqembi (Alzheimers, with partner Eisai), Skyclarys (Friedreich's Ataxia, Reata), Zurzuvae (postpartum depression, Sage), and Qalsody (ALS, Ionis). Biogen has several drug candidates in phase 3 trials in neurology, immunology, and rare diseases.
Following our analysis of the options activities associated with Biogen, we pivot to a closer look at the company's own performance.
Where Is Biogen Standing Right Now? Trading volume stands at 839,529, with BIIB's price down by -0.49%, positioned at $154.67. RSI indicators show the stock to be may be oversold. Earnings announcement expected in 83 days. Professional Analyst Ratings for Biogen
In the last month, 5 experts released ratings on this stock with an average target price of $261.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Needham downgraded its action to Buy with a price target of $270. * Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Biogen with a target price of $255. * An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $270. * An analyst from Baird has decided to maintain their Outperform rating on Biogen, which currently sits at a price target of $300. * Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Biogen, targeting a price of $210.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Biogen with Benzinga Pro for real-time alerts.
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