Cassava Sciences Options Trading: A Deep Dive into Market Sentiment

Investors with a lot of money to spend have taken a bearish stance on Cassava Sciences (NASDAQ:SAVA).

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 SAVA, 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 13 uncommon options trades for Cassava Sciences.

This isn't normal.

The overall sentiment of these big-money traders is split between 38% bullish and 53%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $150,856, and 9 are calls, for a total amount of $652,136.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $60.0 for Cassava Sciences over the last 3 months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Cassava Sciences options trades today is 969.2 with a total volume of 4,843.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Cassava Sciences's big money trades within a strike price range of $15.0 to $60.0 over the last 30 days.

Cassava Sciences Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
SAVA	CALL	TRADE	BEARISH	11/01/24	$2.77	$0.59	$0.88	$30.50	$297.4K	2	3.3K
SAVA	CALL	SWEEP	BULLISH	01/17/25	$11.45	$11.4	$11.45	$50.00	$89.3K	364	195
SAVA	CALL	SWEEP	BULLISH	01/17/25	$11.5	$11.5	$11.5	$50.00	$57.5K	364	89
SAVA	CALL	SWEEP	BULLISH	12/20/24	$12.4	$10.5	$12.4	$45.00	$52.0K	1.0K	62
SAVA	PUT	SWEEP	BEARISH	12/20/24	$7.0	$6.95	$6.95	$15.00	$45.8K	413	69

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.

Where Is Cassava Sciences Standing Right Now?

With a trading volume of 963,103, the price of SAVA is down by -3.0%, reaching $27.15.
Current RSI values indicate that the stock is may be approaching oversold.
Next earnings report is scheduled for 12 days from now.

What Analysts Are Saying About Cassava Sciences

In the last month, 1 experts released ratings on this stock with an average target price of $116.0.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * In a positive move, an analyst from HC Wainwright & Co. has upgraded their rating to Buy and adjusted the price target to $116.

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.

Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.