Investors with a lot of money to spend have taken a bearish stance on Cassava Sciences 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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with SAVA, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Cassava Sciences.
This isn't normal.
The overall sentiment of these big-money traders is split between 37% bullish and 50%, bearish.
Out of all of the options we uncovered, 7 are puts, for a total amount of $321,665, and there was 1 call, for a total amount of $38,840.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $10.0 and $50.0 for Cassava Sciences, spanning the last three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Cassava Sciences's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Cassava Sciences's substantial trades, within a strike price spectrum from $10.0 to $50.0 over the preceding 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 | PUT | TRADE | BEARISH | 12/06/24 | $8.5 | $7.95 | $8.5 | $23.00 | $85.0K | 3 | 125 |
| SAVA | PUT | SWEEP | BEARISH | 01/17/25 | $8.15 | $7.7 | $8.15 | $15.00 | $72.5K | 2.3K | 109 |
| SAVA | CALL | SWEEP | BEARISH | 11/22/24 | $4.3 | $3.8 | $3.85 | $30.00 | $38.8K | 202 | 393 |
| SAVA | PUT | TRADE | NEUTRAL | 12/20/24 | $35.2 | $33.9 | $34.6 | $50.00 | $34.6K | 66 | 10 |
| SAVA | PUT | TRADE | BULLISH | 12/20/24 | $34.8 | $34.25 | $34.4 | $50.00 | $34.4K | 66 | 40 |
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.
After a thorough review of the options trading surrounding Cassava Sciences, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Cassava Sciences's Current Market Status
- With a volume of 657,696, the price of SAVA is down -0.58% at $26.41.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 0 days.
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Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Cassava Sciences with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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