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.
Don’t forget to check out our premarket coverage here
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.
Check This Out: Top 5 Industrials Stocks That Are Ticking Portfolio Bombs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
