Option Strategy | Novo Nordisk’s Obesity Breakthroughs Boost Case for Long-Term Call Bets
$Novo Nordisk(NVO)$ continues to make headlines as the World Health Organization backs weight-loss drugs for obesity and the EU clears its oral semaglutide for cardiovascular risk reduction.
These milestones highlight the company’s growing dominance in the GLP-1 market, positioning it for sustained growth in both obesity and diabetes care.
Long-term call options offer an attractive way to capture NVO’s upside. Whether deep-in-the-money or out-of-the-money, these strategies let investors participate in Novo Nordisk’s growth with defined risk and significantly lower capital outlay than buying shares outright.
WHO Backs Weight-Loss Drugs for Obesity
The World Health Organization will recommend using weight-loss drugs to treat obesity in adults, according to draft guidance from the agency that urged countries to take the condition seriously as a chronic disease.
The WHO’s expert committee concluded that the popular GLP-1 drugs, first developed by $Novo-Nordisk(NVO)$ and $Eli Lilly(LLY)$, are part of the solution for the long-term treatment of obesity for patients with a body mass index (BMI) of 30 or above, alongside counselling on lifestyle and behaviour changes.
It recommended using the drugs to treat obesity for the first time, calling it a critical step toward developing a global standard of care. It is developing separate guidelines for treating children and adolescents.
EU Clears Novo's Oral Semaglutide for Heart Risk Reduction
The European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has approved Danish pharma major Novo Nordisk’s update to the Rybelsus (oral semaglutide) label to reflect the cardiovascular benefits seen in the SOUL trial.
“Heart problems are the leading cause of disability and death for people living with type 2 diabetes. Therefore, treatments that also address heart problems are key to improving not only health outcomes, but also quality of life – and this approval will help do just that,” said Emil Kongshøj Larsen, executive vice president, International Operations at Novo Nordisk. “This milestone makes semaglutide the only oral GLP-1 RA with proven blood glucose and body weight reduction, as well as cardiovascular benefits.”
NVO’s OI Shows Bullish Bets
Open interest for NVO expiring in a year (before Sep 18, 2026 expiration) showed moderately bullish sentiment as Call open interest totaled at 534,364, while Puts stood at 468,000. Put-Call open interest ratio reached 0.88.
Source: Option Charts
Option Strategy: Buy Long-Term Call
The expected move for NVO options expiring on Sep 18, 2026 (367 days) is ±$16.39 (29.25%), with a price range of $39.64 - $72.42.
The expected move means that IV implies the stock price has a probability of rising toward $72 in a year, giving chances to buy long-term call options for bullish investors.
Source: Option Charts
Strategy 1: Buy ITM Call
Conservative investors may consider deep ITM call options. With high intrinsic value and low time value, these options are less vulnerable to time decay, making them effective for long-term investing or hedging.
ITM options carry higher premiums than ATM or OTM ones, but still cost far less than buying the underlying asset outright. This allows investors to control a larger asset value with a smaller capital outlay.
Example: Buy the $40 strike call option ( Sep 18, 2026 expiration)
Max Profit: +∞
Net Debit: $1,900 (est.)
Breakeven: $59
Source: Tiger Trade App
Strategy 2: Buy OTM Call
Out-of-the-money options come with lower premiums, making them attractive to investors with limited capital but higher risk tolerance. They provide a low-cost way to gain exposure to potential upside in the underlying asset.
Example: Buy the $70 strike call option ( Sep 18, 2026 expiration)
Max Profit: +∞
Net Debit: $535 (est.)
Breakeven: $75.35
Source: Tiger Trade App
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