Someone with a lot of money to spend has taken a bullish stance on Cassava Sciences SAVA.
And retail traders should know.
We noticed this today when the big position 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.
So how do we know what this whale 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 61% bullish and 38%, bearish.
Out of all of the special options we uncovered, 10 are puts, for a total amount of $532,790, and 3 are calls, for a total amount of $175,725.
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 $20.0 to $50.0 for Cassava Sciences over the last 3 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 Cassava Sciences'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 Cassava Sciences's whale trades within a strike price range from $20.0 to $50.0 in the last 30 days.
Cassava Sciences Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SAVA | CALL | SWEEP | BEARISH | 08/19/22 | $20.00 | $89.6K | 708 | 200 |
| SAVA | PUT | TRADE | BULLISH | 08/19/22 | $30.00 | $74.5K | 1.3K | 100 |
| SAVA | PUT | TRADE | BULLISH | 08/19/22 | $30.00 | $74.2K | 1.3K | 150 |
| SAVA | PUT | TRADE | BULLISH | 08/19/22 | $30.00 | $73.7K | 1.3K | 50 |
| SAVA | PUT | SWEEP | BULLISH | 05/20/22 | $35.00 | $61.4K | 820 | 69 |
Where Is Cassava Sciences Standing Right Now?
- With a volume of 665,850, the price of SAVA is down -7.02% at $19.6.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 13 days.
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 {d[company_name]}, Benzinga Progives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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