Unusual Options Activity in Iovance Biotherapeutics, Inc. (IOVA)
Today, in the Nasdaq Global Market Composite (NasdaqGM), we saw unusual or noteworthy options trading volume and activity in Iovance Biotherapeutics, Inc. (IOVA), which opened at $23.89.
There were three orders each sized at 2,850 contracts a piece, representing approximately 855,000 shares.
These orders were: $25 strike call options at the ask and $35 strike call options at the bid both dated for November 19th, 2021; these orders, if entered together, would be a call debit spread costing approximately $2.25 at the time of entry. Additionally, there was another order for the $25 strike put option traded at the bid, dated for October 15th, 2021.
These orders come after reports revealing that though IOVA has traded at a recent price of $24.00/share, the average analyst target is 64.01% higher at $39.36/share.
As of this writing, call volume has reached 6,266 which is 368% above its 30 day historical mean.
Unusual Options Activity in NIKE, Inc. (NKE)
Among the underlying components of the NYSE, we saw unusual or noteworthy options trading volume and activity in NIKE, Inc., which opened today at $145.71.
There were three orders sized at 1,403 contracts traded, representing approximately 420,900 shares.
These orders were: $125 strike put options traded at the bid, $155 strike call options traded at the ask, and $170 strike call options traded at the bid, all dated for December 17th, 2021. Together, this strategy would be a call debit spread with a short put to receive some credit to pay for the debit on entering the call vertical.
This strategy would have an 11% maximum return on its risk, with a 27.7% probability of profit, with a maximum downside of approximately $17,691,689.70 and a maximum return of $1,950,170. As always, it is presumed these large-sized whale orders are covering stock holdings at a lower spot price.
These orders come after reports revealing that fashion brands are increasingly turning away from globe-spanning supply chains and low-cost manufacturing hubs in Asia, in a shift that could prove a lasting legacy of the COVID-19 pandemic.
Unusual Options Activity in Alibaba Group Holding Limited (BABA)
Finally, among the underlying components of the NYSE, we saw unusual or noteworthy options trading volume and activity in Alibaba Group Holding Limited (BABA), which opened at $147.03.
There was a $983,000 bet on the $170 strike call option traded at the ask, dated for January 19th, 2024, in the amount of 700 contracts, representing approximately 70,000 shares.
This order comes after continued reporting and speculation regarding the Evergrande episode last week, which some think shows just how risky Chinese investments have become and yet how integral its marketplace is to the global economy.