Deep-pocketed investors have adopted a bullish approach towards Johnson & Johnson (NYSE:JNJ), 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 JNJ usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Johnson & Johnson. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 58% leaning bullish and 25% bearish. Among these notable options, 5 are puts, totaling $174,619, and 7 are calls, amounting to $349,659.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $145.0 and $185.0 for Johnson & Johnson, spanning the last three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Johnson & Johnson's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Johnson & Johnson's significant trades, within a strike price range of $145.0 to $185.0, over the past month.
Johnson & Johnson 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| JNJ | CALL | TRADE | BULLISH | 01/17/25 | $13.7 | $12.95 | $13.6 | $145.00 | $93.8K | 628203 | |
| JNJ | CALL | SWEEP | BULLISH | 06/21/24 | $1.75 | $1.72 | $1.73 | $152.50 | $65.0K | 671.0K | |
| JNJ | CALL | SWEEP | BULLISH | 06/21/24 | $1.74 | $1.74 | $1.74 | $152.50 | $50.1K | 67397 | |
| JNJ | CALL | SWEEP | BULLISH | 06/21/24 | $1.72 | $1.7 | $1.71 | $152.50 | $45.9K | 671.6K | |
| JNJ | PUT | SWEEP | NEUTRAL | 06/20/25 | $34.45 | $31.9 | $33.06 | $185.00 | $42.9K | 013 |
About Johnson & Johnson
Johnson & Johnson is the world's largest and most diverse healthcare firm. Three divisions make up the firm: pharmaceutical, medical devices and diagnostics, and consumer. The drug and device groups represent close to 80% of sales and drive the majority of cash flows for the firm. The drug division focuses on the following therapeutic areas: immunology, oncology, neurology, pulmonary, cardiology, and metabolic diseases. The device segment focuses on orthopedics, surgery tools, vision care, and a few smaller areas. The last segment of consumer focuses on baby care, beauty, oral care, over-the-counter drugs, and women's health. The consumer group is being divested in 2023 under the new name Kenvue. Geographically, just over half of total revenue is generated in the United States.
Johnson & Johnson's Current Market Status
- With a volume of 2,803,451, the price of JNJ is up 0.02% at $151.3.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 58 days.
Professional Analyst Ratings for Johnson & Johnson
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $195.0.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $215.
- An analyst from RBC Capital downgraded its action to Outperform with a price target of $175.
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.