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A whale with a lot of money to spend has taken a noticeably bullish stance on Illumina.
Looking at options history for Illumina ILMN we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 72% of the investors opened trades with bullish expectations and 27% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $237,381 and 6, calls, for a total amount of $827,712.
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 $175.0 to $280.0 for Illumina over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Illumina options trades today is 148.9 with a total volume of 2,108.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Illumina’s big money trades within a strike price range of $175.0 to $280.0 over the last 30 days.
Illumina Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ILMN | CALL | SWEEP | BULLISH | 01/20/23 | $190.00 | $520.4K | 4 | 168 |
| ILMN | CALL | SWEEP | BULLISH | 09/16/22 | $202.50 | $121.9K | 12 | 1.3K |
| ILMN | CALL | SWEEP | BULLISH | 09/16/22 | $202.50 | $88.2K | 12 | 198 |
| ILMN | PUT | SWEEP | BEARISH | 12/16/22 | $280.00 | $60.2K | 3 | 7 |
| ILMN | PUT | SWEEP | BULLISH | 09/30/22 | $180.00 | $51.3K | 20 | 63 |
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ILMN | CALL | SWEEP | BULLISH | 01/20/23 | $190.00 | $520.4K | 4 | 168 |
| ILMN | CALL | SWEEP | BULLISH | 09/16/22 | $202.50 | $121.9K | 12 | 1.3K |
| ILMN | CALL | SWEEP | BULLISH | 09/16/22 | $202.50 | $88.2K | 12 | 198 |
| ILMN | PUT | SWEEP | BEARISH | 12/16/22 | $280.00 | $60.2K | 3 | 7 |
| ILMN | PUT | SWEEP | BULLISH | 09/30/22 | $180.00 | $51.3K | 20 | 63 |
Where Is Illumina Standing Right Now?
- With a volume of 1,253,597, the price of ILMN is down -2.27% at $196.07.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 62 days.
What The Experts Say On Illumina:
- SVB Leerink has decided to maintain their Market Perform rating on Illumina, which currently sits at a price target of $220.
- UBS has decided to maintain their Neutral rating on Illumina, which currently sits at a price target of $245.
- Morgan Stanley has decided to maintain their Equal-Weight rating on Illumina, which currently sits at a price target of $240.
- Piper Sandler has decided to maintain their Overweight rating on Illumina, which currently sits at a price target of $320.
- Stifel has decided to maintain their Buy rating on Illumina, which currently sits at a price target of $300.
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 want to stay updated on the latest options trades for Illumina, Benzinga Pro gives you real-time options trades alerts.
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Image and article originally from www.benzinga.com. Read the original article here.