Financial giants have made a conspicuous bearish move on Cytokinetics. Our analysis of options history for Cytokinetics CYTK revealed 18 unusual trades.
Delving into the details, we found 16% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $63,000, and 16 were calls, valued at $1,379,080.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $35.0 to $75.0 for Cytokinetics over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Cytokinetics's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Cytokinetics's whale activity within a strike price range from $35.0 to $75.0 in the last 30 days.
Cytokinetics 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CYTK | CALL | SWEEP | NEUTRAL | 01/17/25 | $24.2 | $24.0 | $24.0 | $35.00 | $120.0K | 801 | 50 |
| CYTK | CALL | TRADE | BEARISH | 01/17/25 | $24.2 | $24.0 | $24.0 | $35.00 | $120.0K | 801 | 550 |
| CYTK | CALL | SWEEP | BEARISH | 01/17/25 | $24.2 | $24.0 | $24.0 | $35.00 | $120.0K | 801 | 550 |
| CYTK | CALL | TRADE | BEARISH | 01/17/25 | $24.2 | $24.0 | $24.0 | $35.00 | $120.0K | 801 | 300 |
| CYTK | CALL | TRADE | BEARISH | 01/17/25 | $24.2 | $24.0 | $24.0 | $35.00 | $120.0K | 801 | 300 |
About Cytokinetics
Cytokinetics Inc is a biotechnology company that develops muscle biology-driven treatments for diseases characterized by reduced muscle function, muscle weakness, and fatigue. The company develops treatments for diseases such as amyotrophic lateral sclerosis, heart failure, spinal muscular atrophy, and chronic obstructive pulmonary diseases. The treatment is based on small molecules specifically engineered to increase muscle function and contractility. The company is developing muscle-directed investigational medicines that may potentially improve the health span of people with devastating cardiovascular and neuromuscular diseases of impaired muscle function.
Having examined the options trading patterns of Cytokinetics, 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 Cytokinetics
- With a volume of 1,441,074, the price of CYTK is up 2.49% at $56.3.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 21 days.
Professional Analyst Ratings for Cytokinetics
In the last month, 2 experts released ratings on this stock with an average target price of $77.5.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Cytokinetics, targeting a price of $65.
- In a cautious move, an analyst from HC Wainwright & Co. downgraded its rating to Buy, setting a price target of $90.
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 Cytokinetics, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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