High-rolling investors have positioned themselves bearish on Cassava Sciences SAVA, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in SAVA often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Cassava Sciences. This is not a typical pattern.
The sentiment among these major traders is split, with 37% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $98,750, and 7 calls, totaling $275,738.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $60.0 for Cassava Sciences over the last 3 months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Cassava Sciences's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Cassava Sciences's significant trades, within a strike price range of $10.0 to $60.0, over the past month.
Cassava Sciences Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SAVA | PUT | SWEEP | BEARISH | 01/17/25 | $4.0 | $3.95 | $3.95 | $10.00 | $98.7K | 12.7K | 295 |
| SAVA | CALL | SWEEP | BULLISH | 01/16/26 | $11.0 | $10.7 | $11.0 | $60.00 | $55.0K | 755 | 84 |
| SAVA | CALL | TRADE | BEARISH | 01/17/25 | $10.75 | $9.7 | $10.1 | $40.00 | $50.5K | 390 | 53 |
| SAVA | CALL | TRADE | BEARISH | 01/17/25 | $11.6 | $10.6 | $10.8 | $35.00 | $49.6K | 4.3K | 76 |
| SAVA | CALL | TRADE | BEARISH | 01/17/25 | $7.9 | $6.9 | $6.94 | $60.00 | $34.7K | 1.4K | 62 |
About Cassava Sciences
Cassava Sciences Inc is a clinical-stage biotechnology company engaged in developing a scientific approach for the treatment and detection of Alzheimer's disease. Its therapeutic product candidate is called simufilam, and it is a novel treatment for Alzheimer's disease; and investigational diagnostic product candidate is called SavaDx, and it is a novel way to detect the presence of Alzheimer's disease from a small sample of blood, possibly years before the overt appearance of clinical symptoms. It is currently conducting two randomized placebo-controlled Phase 3 clinical trials of oral simufilam in patients with Alzheimer's disease dementia.
Following our analysis of the options activities associated with Cassava Sciences, we pivot to a closer look at the company's own performance.
Current Position of Cassava Sciences
- Currently trading with a volume of 1,372,927, the SAVA's price is down by -10.7%, now at $26.59.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 43 days.
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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 Cassava Sciences 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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