Investors with a lot of money to spend have taken a bearish stance on Cytokinetics CYTK.
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 CYTK, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Cytokinetics.
This isn't normal.
The overall sentiment of these big-money traders is split between 20% bullish and 80%, bearish.
Out of all of the options we uncovered, 9 are puts, for a total amount of $1,181,461, and there was 1 call, for a total amount of $30,780.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $75.0 and $100.0 for Cytokinetics, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Cytokinetics'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 Cytokinetics's whale trades within a strike price range from $75.0 to $100.0 in the last 30 days.
Cytokinetics Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CYTK | PUT | SWEEP | BEARISH | 01/17/25 | $28.0 | $26.0 | $28.0 | $80.00 | $299.6K | 5.3K | 152 |
| CYTK | PUT | TRADE | BEARISH | 01/17/25 | $45.5 | $43.6 | $45.5 | $100.00 | $177.4K | 750 | 167 |
| CYTK | PUT | TRADE | BEARISH | 01/17/25 | $45.3 | $43.6 | $45.3 | $100.00 | $176.6K | 750 | 97 |
| CYTK | PUT | TRADE | BEARISH | 01/17/25 | $45.2 | $43.2 | $45.2 | $100.00 | $149.1K | 750 | 58 |
| CYTK | PUT | TRADE | BEARISH | 01/17/25 | $45.1 | $43.2 | $45.1 | $100.00 | $112.7K | 750 | 25 |
About Cytokinetics
Cytokinetics Inc is a biotechnology company that develops muscle biology-driven treatments for diseases characterized by reduced muscle function, muscle weakness, and fatigue. The company develops treatments for diseases such as amyotrophic lateral sclerosis, heart failure, spinal muscular atrophy, and chronic obstructive pulmonary diseases. The treatment is based on small molecules specifically engineered to increase muscle function and contractility. The company is developing muscle-directed investigational medicines that may potentially improve the health span of people with devastating cardiovascular and neuromuscular diseases of impaired muscle function.
In light of the recent options history for Cytokinetics, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Cytokinetics's Current Market Status
- Currently trading with a volume of 837,405, the CYTK's price is down by -0.58%, now at $56.25.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 70 days.
Expert Opinions on Cytokinetics
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $74.0.
- In a cautious move, an analyst from Goldman Sachs downgraded its rating to Neutral, setting a price target of $60.
- In a cautious move, an analyst from HC Wainwright & Co. downgraded its rating to Buy, setting a price target of $90.
- An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $72.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Cytokinetics, Benzinga Pro gives you real-time options trades alerts.
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