Decoding Walgreens Boots Alliance's Options Activity: What's the Big Picture?

Deep-pocketed investors have adopted a bearish approach towards Walgreens Boots Alliance WBA, 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 WBA usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 21 extraordinary options activities for Walgreens Boots Alliance. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 7 are puts, totaling $239,072, and 14 are calls, amounting to $579,920.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $20.0 to $25.0 for Walgreens Boots Alliance during the past quarter.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Walgreens Boots Alliance's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Walgreens Boots Alliance's significant trades, within a strike price range of $20.0 to $25.0, over the past month.

Walgreens Boots Alliance Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

About Walgreens Boots Alliance

Walgreens Boots Alliance is one of the largest retail pharmacy chains in the U.S., with over 8,500 locations. Nearly three quarters of Americans live within five miles of a Walgreens location. Roughly two thirds of revenue is generated from prescription drug sales; Walgreens makes up 20% of total prescription revenue in the U.S. Walgreens also generates sales from retail products (general wellness consumables and its own branded merchandise), European drug wholesale, and healthcare. With more locations incorporating additional services like Health Corner and Village Medical, Walgreens creates an omnichannel experience for patients and positions itself as a one-stop healthcare provider.

Following our analysis of the options activities associated with Walgreens Boots Alliance, we pivot to a closer look at the company's own performance.

Current Position of Walgreens Boots Alliance

• Currently trading with a volume of 6,595,299, the WBA's price is down by -2.55%, now at $20.23.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 52 days.

Professional Analyst Ratings for Walgreens Boots Alliance

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $30.0.

• An analyst from JP Morgan has elevated its stance to Overweight, setting a new price target at $30.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Walgreens Boots Alliance with Benzinga Pro for real-time alerts.