Traders bet on Johnson & Johnson rebound
Call buyers are looking for a turnaround from Johnson & Johnson (JNJ). So far, 1,862 contracts of the Feb. 140 call have changed hands, against open interest of 920 contracts. Pricing on today’s trades has been high, indicating that these new contracts are being opened from the buy side.
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About Johnson & Johnson
Johnson & Johnson is the world's largest and most diverse healthcare company. Three divisions make up the firm: pharmaceutical, medical devices and diagnostics, and consumer. The drug and device groups represent close to 80% of sales and drive the majority of cash flows for the firm. The drug division focuses on the following therapeutic areas: immunology, oncology, neurology, pulmonary, cardiology, and metabolic diseases. The device segment focuses on orthopedics, surgery tools, vision care, and a few smaller areas. The last segment of consumer focuses on baby care, beauty, oral care, over-the-counter drugs, and women's health. Geographically, close to half of total revenue is generated in the United States.