Benzinga | Dec 20, 2021 10:46AM EST

This Is What Whales Are Betting On Novo Nordisk

Someone with a lot of money to spend has taken a bearish stance on Novo Nordisk (NYSE:NVO).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with NVO, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 13 options trades for Novo Nordisk.

This isn't normal.

The overall sentiment of these big-money traders is split between 23% bullish and 76%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $48,366, and 12, calls, for a total amount of $473,680..

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $80.0 to $110.0 for Novo Nordisk over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Novo Nordisk's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Novo Nordisk's whale trades within a strike price range from $80.0 to $110.0 in the last 30 days.

Novo Nordisk Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestNVO CALL TRADE BEARISH 01/19/ $80.00 $71.9K 153 123 24NVO CALL TRADE BEARISH 01/19/ $80.00 $52.8K 153 123 24NVO PUT SWEEP BULLISH 01/21/ $110.00 $48.3K 758 53 22NVO CALL TRADE BULLISH 01/19/ $80.00 $42.1K 153 13 24NVO CALL TRADE NEUTRAL 01/19/ $80.00 $41.7K 153 21 24

Where Is Novo Nordisk Standing Right Now?

* With a volume of 1,294,237, the price of NVO is down -4.5% at $102.62.

* RSI indicators hint that the underlying stock may be approaching oversold.

* Next earnings are expected to be released in 44 days.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.