BridgeBio Pharma's Options: A Look at What the Big Money is Thinking

Deep-pocketed investors have adopted a bullish approach towards BridgeBio Pharma (NASDAQ:BBIO), 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 BBIO usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for BridgeBio Pharma. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 44% leaning bullish and 33% bearish. Among these notable options, 3 are puts, totaling $1,085,600, and 6 are calls, amounting to $400,980.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $55.0 for BridgeBio Pharma during the past quarter.

Insights into Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for BridgeBio Pharma'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 BridgeBio Pharma's whale trades within a strike price range from $30.0 to $55.0 in the last 30 days.

BridgeBio Pharma Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
BBIO PUT TRADE BULLISH 08/16/24 $6.0 $4.1 $4.6 $30.00 $920.0K 654 0
BBIO PUT SWEEP BEARISH 08/16/24 $11.5 $11.4 $11.5 $40.00 $136.8K 247 145
BBIO CALL TRADE BULLISH 08/16/24 $0.45 $0.0 $0.45 $55.00 $112.5K 5.5K 0
BBIO CALL SWEEP BULLISH 08/16/24 $3.1 $3.0 $3.1 $35.00 $100.1K 3.0K 644
BBIO CALL SWEEP NEUTRAL 08/16/24 $1.65 $1.2 $1.6 $40.00 $80.0K 6.1K 500

About BridgeBio Pharma

BridgeBio Pharma Inc is involved in identifying advance transformative medicines to treat patients who suffer from Mendelian diseases, which are diseases that arise from defects in a single gene, and cancers with clear genetic drivers. Its product pipeline categories include Mendelian, Genetic Dermatology, Oncology, and Gene therapy. The company focus on genetic diseases because they exist at the intersection of high unmet patient need and tractable biology.

Having examined the options trading patterns of BridgeBio Pharma, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is BridgeBio Pharma Standing Right Now? With a volume of 625,115, the price of BBIO is up 2.5% at $30.72. RSI indicators hint that the underlying stock may be overbought. Next earnings are expected to be released in 77 days. Professional Analyst Ratings for BridgeBio Pharma

In the last month, 1 experts released ratings on this stock with an average target price of $50.0.

In a cautious move, an analyst from Evercore ISI Group downgraded its rating to Outperform, setting a price target of $50.

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 BridgeBio Pharma, Benzinga Pro gives you real-time options trades alerts.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.