Deep-pocketed investors have adopted a bearish approach towards Novavax NVAX, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NVAX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Novavax. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 70% bearish. Among these notable options, 2 are puts, totaling $53,400, and 8 are calls, amounting to $584,510.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $5.5 to $20.0 for Novavax over the last 3 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 Novavax's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Novavax's substantial trades, within a strike price spectrum from $5.5 to $20.0 over the preceding 30 days.
Novavax Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVAX | CALL | TRADE | BEARISH | 05/24/24 | $4.85 | $3.9 | $4.1 | $12.00 | $102.5K | 596 | 250 |
| NVAX | CALL | TRADE | BEARISH | 07/19/24 | $10.9 | $10.0 | $10.0 | $5.50 | $100.0K | 2.3K | 0 |
| NVAX | CALL | TRADE | BEARISH | 07/19/24 | $10.05 | $9.5 | $9.5 | $5.50 | $95.0K | 2.3K | 200 |
| NVAX | CALL | TRADE | BEARISH | 01/17/25 | $7.1 | $6.8 | $6.88 | $10.00 | $82.5K | 9.5K | 254 |
| NVAX | CALL | TRADE | BEARISH | 01/17/25 | $6.7 | $6.5 | $6.5 | $10.00 | $78.0K | 9.5K | 133 |
About Novavax
Novavax Inc is a biotechnology company that develops vaccines. The company works in the clinical stage of development with a focus on delivering novel products that prevent a broad range of diseases. Novavax works together with its wholly owned Swedish subsidiary to produce vaccine candidates to respond to both known and emerging disease threats. The company believes its vaccine technology has the potential to be applied broadly to a wide variety of human infectious diseases. The Company manages its business as one operating segment, the development and commercialization of vaccines. The company generates maximum revenue from Europe.
After a thorough review of the options trading surrounding Novavax, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Novavax Standing Right Now?
- With a trading volume of 11,883,060, the price of NVAX is down by -1.46%, reaching $15.47.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 75 days from now.
Professional Analyst Ratings for Novavax
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $17.5.
- Showing optimism, an analyst from B of A Securities upgrades its rating to Neutral with a revised price target of $12.
- An analyst from HC Wainwright & Co. downgraded its action to Buy with a price target of $19.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on Novavax with a target price of $10.
- An analyst from B. Riley Securities has decided to maintain their Buy rating on Novavax, which currently sits at a price target of $29.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Novavax options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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