Someone with a lot of money to spend has taken a bullish stance on Gilead Sciences (NASDAQ:GILD).
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 GILD, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 32 options trades for Gilead Sciences.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $32,500, and 31, calls, for a total amount of $4,508,630..
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 $62.5 to $80.0 for Gilead Sciences over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Gilead Sciences'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 Gilead Sciences's whale activity within a strike price range from $62.5 to $80.0 in the last 30 days.
Gilead Sciences 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 |
|---|---|---|---|---|---|---|---|---|
| GILD | CALL | TRADE | BEARISH | 06/16/23 | $80.00 | $1.4M | 354 | 3.1K |
| GILD | CALL | TRADE | BEARISH | 01/20/23 | $75.00 | $1.1M | 7.6K | 3.4K |
| GILD | CALL | SWEEP | BEARISH | 01/20/23 | $75.00 | $281.2K | 7.6K | 4.5K |
| GILD | CALL | SWEEP | BULLISH | 10/28/22 | $69.00 | $195.1K | 1.5K | 490 |
| GILD | CALL | SWEEP | BULLISH | 10/28/22 | $69.00 | $121.4K | 1.5K | 1.0K |
Where Is Gilead Sciences Standing Right Now?
- With a volume of 11,516,290, the price of GILD is up 10.75% at $77.75.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 95 days.
What The Experts Say On Gilead Sciences:
- Morgan Stanley has decided to maintain their Equal-Weight rating on Gilead Sciences, which currently sits at a price target of $68.
- Truist Securities upgraded its action to Buy with a price target of $91
- Barclays has decided to maintain their Underweight rating on Gilead Sciences, which currently sits at a price target of $60.
- Wells Fargo has decided to maintain their Equal-Weight rating on Gilead Sciences, which currently sits at a price target of $75.
- Piper Sandler upgraded its action to Overweight with a price target of $96
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 Gilead Sciences, Benzinga Pro gives you real-time options trades alerts.
