Investors with a lot of money to spend have taken a bearish stance on Verona Pharma VRNA.
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 VRNA, 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 9 uncommon options trades for Verona Pharma.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $81,950, and 6 are calls, for a total amount of $477,630.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $15.0 to $17.5 for Verona Pharma over the recent three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Verona Pharma options trades today is 1776.0 with a total volume of 4,383.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Verona Pharma's big money trades within a strike price range of $15.0 to $17.5 over the last 30 days.
Verona Pharma Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| VRNA | CALL | TRADE | BEARISH | 08/16/24 | $2.05 | $1.65 | $1.65 | $15.00 | $165.0K | 102 | 1.0K |
| VRNA | CALL | TRADE | BEARISH | 08/16/24 | $2.2 | $1.6 | $1.65 | $15.00 | $132.0K | 102 | 227 |
| VRNA | CALL | SWEEP | BEARISH | 09/20/24 | $2.55 | $2.2 | $2.2 | $15.00 | $88.2K | 944 | 160 |
| VRNA | CALL | SWEEP | BEARISH | 08/16/24 | $2.25 | $1.7 | $1.7 | $15.00 | $34.0K | 102 | 27 |
| VRNA | CALL | TRADE | BEARISH | 09/20/24 | $2.5 | $2.2 | $2.2 | $15.00 | $32.7K | 944 | 10 |
About Verona Pharma
Verona Pharma PLC is a clinical-stage biopharmaceutical company focused on developing and commercializing therapeutics for the treatment of respiratory diseases with unmet medical needs. The company is currently focusing on developing its Ensifentrine product candidate, which will treat chronic obstructive pulmonary disease (COPD), cystic fibrosis (CF), and other respiratory diseases, including asthma.
In light of the recent options history for Verona Pharma, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Verona Pharma
- Trading volume stands at 7,854,529, with VRNA's price up by 5.58%, positioned at $15.51.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 35 days.
Professional Analyst Ratings for Verona Pharma
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $35.5.
- An analyst from HC Wainwright & Co. persists with their Buy rating on Verona Pharma, maintaining a target price of $36.
- An analyst from Canaccord Genuity persists with their Buy rating on Verona Pharma, maintaining a target price of $35.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Verona Pharma options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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