Analyzing Recent Options Activity for Biogen (NASDAQ: BIIB)

Recent options trading indicates that significant financial players are adopting a distinctly bearish stance on Biogen. After examining Biogen's options history, we discovered eight unusual trades that stand out in this context.

Our analysis revealed that out of all the traders involved, 37% were taking a bullish approach, while a larger portion, 62%, displayed bearish inclinations. Specifically, among the trades identified, two were puts valued at $104,640, and six were calls amounting to $720,362.

Anticipated Price Movements

Looking into the volume and open interest for these options contracts, it's apparent that major players have been targeting a price range for Biogen between $115.0 and $260.0 over the last quarter. This indicates some expectations for volatility within this price window.

Understanding Volume and Open Interest

To further understand the liquidity and interest surrounding these trades, we found that the average open interest for Biogen options currently stands at 238.14, with an overall volume of 370.00.

The accompanying chart tracks the progression of volume and open interest for Biogen's significant call and put options trades within the specified strike price range of $115.0 to $260.0 over the past 30 days.

30-Day Overview of Biogen Call and Put Volume

Key Options Observed

Symbol	PUT/CALL	Trade Type	Sentiment	Expiration Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
BIIB	CALL	SWEEP	BEARISH	01/15/27	$43.4	$41.0	$41.0	$130.00	$328.0K	604	0
BIIB	CALL	SWEEP	BEARISH	01/15/27	$43.9	$40.8	$40.8	$130.00	$244.8K	604	155
BIIB	PUT	TRADE	BULLISH	01/16/26	$7.6	$7.2	$7.2	$115.00	$54.7K	354	0
BIIB	PUT	SWEEP	BEARISH	09/19/25	$9.6	$9.4	$9.6	$130.00	$49.9K	203	2
BIIB	CALL	SWEEP	BULLISH	06/20/25	$5.7	$5.4	$5.7	$165.00	$47.8K	290	87

Overview of Biogen

Biogen was formed in 2003 by merging with Idec, primarily focusing on marketing Biogen's multiple sclerosis medication, Avonex, alongside Idec's cancer treatment, Rituxan. Currently, some of their main products include Rituxan and several multiple sclerosis drugs such as Plegridy, Tysabri, Tecfidera, and Vumerity. Recent additions to their portfolio include Spinraza for spinal muscular atrophy, Leqembi for Alzheimer’s disease, and Qalsody for ALS.

After a comprehensive review of the options trading activity involving Biogen, it is time to take a more in-depth look at the company's current market position and performance.

Current Market Position of Biogen

• Biogen's current stock price is $141.47, reflecting an increase of 0.65% with a trading volume of 525,457 shares.
• Recent Relative Strength Index (RSI) readings suggest that the stock might be nearing an oversold condition.
• Investors can anticipate the next earnings report in about 21 days.

Analyst Opinions on Biogen

In the last month, three professional analysts have expressed their views on Biogen, providing an average price target of approximately $174.33. This divergence in opinions highlights the cautious stance some analysts are taking.

Unusual Options Activity: A Look at Smart Money

Spotting unusual options activity can reveal potential market shifts before they occur. Notably, one analyst from Piper Sandler has downgraded Biogen's rating to Neutral, with a revised price target of $138. Another analyst from Wells Fargo maintains an Equal-Weight rating with a target price of $165. Meanwhile, Truist Securities continues to hold a Buy rating, aiming for a target of $220.

Trading options involves inherent risks but also the possibility of significant gains. Traders often manage these risks through various strategies, ongoing education, and by closely monitoring market dynamics. For real-time updates and alerts on options trades for Biogen, staying informed is essential.

Biogen, Options, Bearish