Traders Bet Moderna Could Rise By This Much

Moderna Inc. MRNA announced Monday, July 11, that its omicron booster candidate has showed a stronger response against subvariants than its original shot.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said the Cambridge, Massachusetts-based company traded more than 1.6 times its average daily call volume on Monday.

Calls outpaced puts by 3:2, he added.

Check out other stocks making big moves in the premarket.

There was a buyer of 1,000 of the October 250 strike calls at an average price of $5.70 per contract, Khouw mentioned. The trader bet $570,000 for at least a 40% rise in Moderna’s stock by October expiration.

MRNA Price Action: Shares of Moderna have lost more than 25% year to date. The company opened Tuesday, July 12, at $175.41 per share.