Investors with a lot of money to spend have taken a bullish stance on Sarepta Therapeutics SRPT.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SRPT, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Sarepta Therapeutics.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 45%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $97,200, and 10, calls, for a total amount of $436,308.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $70.0 and $100.0 for Sarepta Therapeutics, spanning the last three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Sarepta Therapeutics's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Sarepta Therapeutics's substantial trades, within a strike price spectrum from $70.0 to $100.0 over the preceding 30 days.
Sarepta Therapeutics Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SRPT | PUT | TRADE | BULLISH | 01/19/24 | $100.00 | $97.2K | 4.3K | 60 |
| SRPT | CALL | SWEEP | NEUTRAL | 12/15/23 | $75.00 | $67.7K | 810 | 151 |
| SRPT | CALL | SWEEP | BULLISH | 01/19/24 | $100.00 | $67.7K | 1.3K | 720 |
| SRPT | CALL | TRADE | NEUTRAL | 12/15/23 | $75.00 | $54.2K | 810 | 43 |
| SRPT | CALL | SWEEP | BULLISH | 12/15/23 | $70.00 | $46.4K | 495 | 51 |
About Sarepta Therapeutics
Sarepta Therapeutics Inc is a biotechnology company focused on treating rare, infectious, and other diseases. It targets a broad range of diseases while focusing on the rapid development of its drug candidates. Sarepta's strategy involves proprietary RNA-targeted technology platforms to be used for developing novel pharmaceutical products to treat a broad range of diseases and address key unmet medical needs. The company uses third-party contractors to manufacture its product candidates. Most of Sarepta's product candidates are at an early stage of development.
Having examined the options trading patterns of Sarepta Therapeutics, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Sarepta Therapeutics
- With a trading volume of 895,497, the price of SRPT is down by -0.19%, reaching $82.99.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 99 days from now.
What The Experts Say On Sarepta Therapeutics
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $111.0.
- An analyst from RBC Capital has decided to maintain their Outperform rating on Sarepta Therapeutics, which currently sits at a price target of $148.
- An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $40.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Sarepta Therapeutics with a target price of $146.
- An analyst from Cantor Fitzgerald has decided to maintain their Neutral rating on Sarepta Therapeutics, which currently sits at a price target of $80.
- An analyst from Barclays has decided to maintain their Overweight rating on Sarepta Therapeutics, which currently sits at a price target of $141.
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 Sarepta Therapeutics, Benzinga Pro gives you real-time options trades alerts.
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