A Large Bet On This Vaccine Stock Rallying More Than 40%

All eyes have been on vaccine stocks, including Pfizer Inc. PFE, AstraZeneca PLC AZN and Moderna Inc MRNA, with the rapid spread of the Omicron variant.

One trader is betting on a sharp turnaround in Moderna’s stock, which has lost almost 12% since Thursday last week.

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On CNBC's "Options Action," Tony Zhang said that that Moderna traded around 1.3 times its average daily volume on Wednesday.

Around 84,000 contracts were traded, Zhang mention. There was a buyer of 700 September 330 calls, at an average price of $27.30 per contract, he added.

“This particular trader is betting $1.9 million in premium that the stock is going to be likely 42% higher between now and September (2022),” Zhang said.