Investors with a lot of money to spend have taken a bearish stance on Cassava Sciences SAVA.
And retail traders should know.
We noticed this today when the trades 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 SAVA, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 11 uncommon options trades for Cassava Sciences.
This isn't normal.
The overall sentiment of these big-money traders is split between 18% bullish and 54%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $179,025, and 7 are calls, for a total amount of $351,889.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $60.0 for Cassava Sciences over the last 3 months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Cassava Sciences's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Cassava Sciences's significant trades, within a strike price range of $15.0 to $60.0, over the past month.
Cassava Sciences Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SAVA | CALL | SWEEP | BEARISH | 12/20/24 | $10.95 | $10.9 | $10.9 | $45.00 | $104.6K | 1.9K | 134 |
| SAVA | PUT | SWEEP | BULLISH | 01/17/25 | $8.45 | $7.75 | $7.76 | $15.00 | $77.5K | 2.3K | 100 |
| SAVA | CALL | SWEEP | BEARISH | 12/20/24 | $10.95 | $10.9 | $10.9 | $45.00 | $71.9K | 1.9K | 200 |
| SAVA | CALL | TRADE | BEARISH | 12/20/24 | $9.0 | $8.7 | $8.7 | $60.00 | $43.4K | 2.2K | 104 |
| SAVA | CALL | TRADE | BEARISH | 12/20/24 | $9.0 | $8.5 | $8.7 | $60.00 | $42.6K | 2.2K | 153 |
About Cassava Sciences
Cassava Sciences Inc is a clinical-stage biotechnology company engaged in developing a scientific approach for the treatment and detection of Alzheimer's disease. Its therapeutic product candidate is called simufilam, and it is a novel treatment for Alzheimer's disease; and investigational diagnostic product candidate is called SavaDx, and it is a novel way to detect the presence of Alzheimer's disease from a small sample of blood, possibly years before the overt appearance of clinical symptoms. It is currently conducting two randomized placebo-controlled Phase 3 clinical trials of oral simufilam in patients with Alzheimer's disease dementia.
After a thorough review of the options trading surrounding Cassava Sciences, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Cassava Sciences
- With a volume of 1,410,319, the price of SAVA is down -7.39% at $23.93.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 2 days.
What Analysts Are Saying About Cassava Sciences
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $116.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * In a positive move, an analyst from HC Wainwright & Co. has upgraded their rating to Buy and adjusted the price target to $116.
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 Cassava Sciences, 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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