Regeneron Pharmaceuticals Options Traders Betting On Stock Falling This Much By April Expiration

Sanofi SNY and Regeneron Pharmaceuticals, Inc. REGN shares surged on Thursday after the companies announced primary and all key secondary endpoints were met in a Phase 3 trial evaluating Dupixent in COPD.

On CNBC’s "Options Action," Mike Khouw of Optimize Advisors said Regeneron traded at more than 3.6x average daily volume on Thursday.

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There were buyers of 720 of the April 725-puts at an average price of $4.37 per contract, Khouw mentioned.

The trader sees Regeneron’s stock dropping at least 10% by April expiration.

Price Action: Regeneron Pharmaceuticals shares gained 6.8% to settle at $802.16 on Thursday, while Sanofi shares rose 6% to $51.73 during the session.

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