Investors with a lot of money to spend have taken a bullish stance on Biogen (NASDAQ:BIIB).
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 these are institutions or just wealthy individuals, we don’t know. But when something this big happens with BIIB, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga‘s options scanner spotted 15 uncommon options trades for Biogen.
This isn’t normal.
The overall sentiment of these big-money traders is split between 33% bullish and 33%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $262,205, and 10 are calls, for a total amount of $986,457.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $85.0 to $165.0 for Biogen during the past quarter.
Volume & Open Interest Development
In today’s trading context, the average open interest for options of Biogen stands at 651.08, with a total volume reaching 1,925.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Biogen, situated within the strike price corridor from $85.0 to $165.0, throughout the last 30 days.
Biogen 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BIIB | CALL | SWEEP | NEUTRAL | 01/16/26 | $27.5 | $24.7 | $26.13 | $145.00 | $359.2K | 877 | 189 |
| BIIB | CALL | SWEEP | NEUTRAL | 11/21/25 | $48.9 | $45.7 | $47.0 | $120.00 | $225.6K | 808 | 113 |
| BIIB | CALL | TRADE | NEUTRAL | 11/21/25 | $48.8 | $45.7 | $47.0 | $120.00 | $117.5K | 808 | 138 |
| BIIB | PUT | SWEEP | BULLISH | 11/21/25 | $4.3 | $2.0 | $2.65 | $160.00 | $82.9K | 91 | 313 |
| BIIB | PUT | SWEEP | BEARISH | 12/05/25 | $7.3 | $7.0 | $7.1 | $165.00 | $75.2K | 0 | 0 |
About Biogen
Biogen is an established biopharmaceutical company focused on treatments for neurological diseases and rare diseases. Its declining multiple sclerosis franchise is its largest revenue generator and contributed 45% of total revenue in 2024. Biogen also generates significant revenue from its CD20 collaboration agreements with Roche (18% of total in 2024), which includes oncology drugs Rituxan and Gazyva and multiple sclerosis drug Ocrevus. Biogen’s newer franchises include Spinraza (spinal muscular atrophy, with partner Ionis), Leqembi (Alzheimer’s disease, collabroation revenue from its partner Eisai), Skyclarys (Friedreich’s ataxia, Reata), Zurzuvae (postpartum depression, Sage), and Qalsody (amyotrophic lateral sclerosis, Ionis).
In light of the recent options history for Biogen, it’s now appropriate to focus on the company itself. We aim to explore its current performance.
Biogen’s Current Market Status
- With a trading volume of 1,345,038, the price of BIIB is up by 0.28%, reaching $161.93.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 90 days from now.
Professional Analyst Ratings for Biogen
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $189.67.
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* Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for Biogen, targeting a price of $210.
* An analyst from Stifel has elevated its stance to Buy, setting a new price target at $202.
* An analyst from Bernstein has decided to maintain their Market Perform rating on Biogen, which currently sits at a price target of $157.
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 Biogen with Benzinga Pro for real-time alerts.
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