ABT Options Traders Pour In as Stock Hits New High

ABT stock could receive more price-target hikes like it saw today

Jan 22, 2020 at 3:12 PM
facebook X logo linkedin

Abbott Laboratories (NYSE:ABT) is in the winner's circle once again today thanks to the company's impressive quarterly sales update. The healthcare stock was last seen 2.8% higher at $92.21, earlier tagging an all-time high of $92.45, and options traders are moving in.

Overall, calls are crossing at four times the expected rate, outpacing puts by more than 2-to-1. Traders are opening new positions at the February 95 call, along with the weekly 1/24 93-strike call. Still, call open interest sits in just the 6th annual percentile.

ABT shares were running hot even before today, evident by their 14-day Relative Strength Index (RSI) of 70, showing overbought conditions. To that extent, there has been some bearish activity, with short interest rising 6.9% in the past two reporting periods, putting a solid 4.3 days' worth of buying power into these bears' hands, based on average trading volumes.

Analysts, though, love the stock, with nine of the 11 in coverage handing out "strong buy" recommendations. Just today, CFRA Research came in and hiked its price target to $99 from $95. More bullish attention could be coming since the average 12-month price target stands right overhead at $96.21.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI