Unpacking the Latest Options Trading Trends in Walgreens Boots Alliance

Investors with a lot of money to spend have taken a bearish stance on Walgreens Boots Alliance WBA.

And retail traders should know.

We noticed this today when the trades 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 WBA, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 11 options trades for Walgreens Boots Alliance.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.

Out of all of the options we uncovered, 10 are puts, for a total amount of $712,239, and there was 1 call, for a total amount of $25,500.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $17.5 to $27.5 for Walgreens Boots Alliance over the last 3 months.

Insights into Volume & Open Interest

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 Walgreens Boots Alliance'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 Walgreens Boots Alliance's whale activity within a strike price range from $17.5 to $27.5 in the last 30 days.

Walgreens Boots Alliance Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

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 9,567,911, the WBA's price is down by -1.98%, now at $22.81.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 70 days.

Professional Analyst Ratings for Walgreens Boots Alliance

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $27.0.

• An analyst from HSBC has revised its rating downward to Hold, adjusting the price target to $27.

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.