Deep-pocketed investors have adopted a bullish approach towards Pfizer (NYSE:PFE), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in PFE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 27 extraordinary options activities for Pfizer. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 33% bearish. Among these notable options, 14 are puts, totaling $703,525, and 13 are calls, amounting to $752,269.
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 $24.0 to $35.0 for Pfizer over the last 3 months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Pfizer's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Pfizer's substantial trades, within a strike price spectrum from $24.0 to $35.0 over the preceding 30 days.
Pfizer Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PFE | CALL | SWEEP | BEARISH | 07/19/24 | $1.1 | $1.09 | $1.1 | $29.00 | $207.9K | 14.7K | 2.3K |
| PFE | PUT | SWEEP | BULLISH | 07/19/24 | $0.91 | $0.89 | $0.9 | $29.00 | $146.1K | 1.4K | 1.8K |
| PFE | PUT | SWEEP | BULLISH | 09/20/24 | $0.94 | $0.92 | $0.92 | $27.50 | $131.7K | 36.6K | 1.5K |
| PFE | CALL | SWEEP | NEUTRAL | 08/16/24 | $5.25 | $5.2 | $5.2 | $24.00 | $104.0K | 9.4K | 200 |
| PFE | CALL | TRADE | BULLISH | 05/17/24 | $0.92 | $0.88 | $0.92 | $28.00 | $69.2K | 34.0K | 2.2K |
About Pfizer
Pfizer is one of the world's largest pharmaceutical firms, with annual sales close to $50 billion (excluding COVID-19 product sales). While it historically sold many types of healthcare products and chemicals, now prescription drugs and vaccines account for the majority of sales. Top sellers include pneumococcal vaccine Prevnar 13, cancer drug Ibrance, and cardiovascular treatment Eliquis. Pfizer sells these products globally, with international sales representing close to 50% of total sales. Within international sales, emerging markets are a major contributor.
After a thorough review of the options trading surrounding Pfizer, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Pfizer
- With a volume of 21,707,345, the price of PFE is up 0.26% at $28.89.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 75 days.
What Analysts Are Saying About Pfizer
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $36.666666666666664.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Pfizer, targeting a price of $29.
- Reflecting concerns, an analyst from BMO Capital lowers its rating to Outperform with a new price target of $36.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $45.
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.