The Dow is trading higher today, as financial stocks get a boost after the Fed's annual stress tests. Several individual stocks were making news too, including Sarepta Therapeutics Inc (NASDAQ:SRPT) and UnitedHealth Group Incorporated (NYSE:UNH). Here's a look at what's moving the shares of SRPT and UNH.

Sarepta Stock Surges on Pfizer's Gene Therapy Disaster

Biotech concern Sarepta is eyeing its best day in over a year, up 16.8% to trade at $151.52, after an early-stage study of competitor Pfizer's (PFE) Duchenne muscular dystrophy (DMD) drug in six patients put two in the hospital. After the news dropped, William Blair added that Sarepta is the "clear leader" in the race to develop a gene therapy treatment for DMD, and Cantor Fitzgerald said the company's gene therapy "remains [the] most compelling" and its "safety profile remains the cleanest." 

Now, SRPT is trading back near February's highs, and headed for a three-day win streak. This positive price action has options bulls taking notice, with 18,000 calls across the tape so far -- six times the average intraday volume. Much of this action is taking place at the weekly 7/5 150-strike call, with positions likely being bought to open. This means traders are betting on even more upside for SRPT before the contract expires next week. 

Democratic Debate Has UNH Stock Slipping

The shares of UNH hit one-month lows earlier today, bottoming out at $238.65, after last night's debate between Democratic presidential hopefuls brought up the abolition of private healthcare coverage in favor of "Medicare for All." Currently, Senators Kamala Harris and Bernie Sanders are the only two in favor of the plan. Former Vice President Joe Biden favors Obamacare, naturally. In any case, shares of the insurance concern are now 1.3% lower at $243.12.  

Since UNH hit an annual low of $208.07 on April 17, the stock has staged an impressive rebound, but quickly ran at out steam at the $250 level and its 200-day moving average. Now, the equity is trading just below its year-over-year and year-to-date breakeven.

Today's dip has some options bears coming out of the woodwork, with 12,000 UNH puts on the board -- two times the norm. The most popular of these is the weekly 6/28 242.50-strike put, which expires at the closing bell today.

Goldman Sachs downgraded Zoom Video Communications Inc (NASDAQ:ZM) to "sell" from "neutral," with analyst Heather Bellini saying the video conferencing's long-term potential is already priced in. However, given ZM stock's impressive run since its mid-April trading debut, the brokerage firm upped its price target to $66 from $53 -- still a major discount to Friday's close at $88.79.

In reaction, ZM stock is down 3.1% in electronic trading. Since opening for trading at $65 on April 14 -- markedly higher than Zoom's $36 per share in initial public offering (IPO) price -- the shares have surged 36.6%. The equity's recent pullback from its June 20 record high of $107.34 found support at its newly formed 40-day moving average, and this trendline will likely be tested today, should this pre-market price action hold.

Most analysts echo Goldman Sachs' skepticism, with eight of 12 covering firms calling the stock a "hold" or worse. Plus, the average 12-month price target of $81.30 sits in territory not seen since before Zoom Video's early June post-earnings bull gap.

Options traders, on the other hand, have shown a distinct preference for calls over puts. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), speculators have bought to open 2.29 calls for each put over the last 10 days.

Casino giant Wynn Resorts, Limited (NASDAQ:WYNN) is moving higher alongside its sector peers this morning, seeing a lift after Chinese territory Macau reported a 5.9% year-over-year rise in gambling revenue for the month of June, more than analysts were expecting. WYNN was last seen up 5% in electronic trading, as traders brush off a price-target cut to $160 from $166 out of Jefferies.

Looking at the charts, Wynn Resorts stock has spent the majority of last month recovering from its June 3 five-month low near $90. This upside recently ran out of steam near the equity's 120-day moving average, a trendline that could be toppled in today's trading. Year-to-date, the security is up 25%.

On the options front, calls look to be extremely popular among traders. This is per data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which shows WYNN sporting a 10-day call/put volume ratio of 3.73, ranking 1 percentage point from an annual high. In other words, nearly four calls have been purchased for every put over the past 10 days, and the rate of call buying has been quicker than usual.

Some of this activity may have been at the hands of shorts hedging against any additional upside. Short interest surged 36% during the past two reporting periods on Wynn stock, and now accounts for just over 6% of the equity's total available float. At WYNN's average pace of daily trading, it would take shorts about three days to buy back their bearish bets.

It was a big weekend for Applied Materials, Inc. (NASDAQ:AMAT). First, the semiconductor name got a boost from the U.S.-China trade truce --more specifically -- the easing of U.S. restrictions on Chinese tech giant Huawei. Then, Applied Materials inked a deal to buy Japanese chipmaker Kokusai Electric for $2.2 billion. The deal bumps up the company's market share to over 20%.

Applied Materials stock is up 5.6% to trade at $47.51 in response, on track to post its best day since Jan. 24, and topple its year-over-year breakeven point. The shares are trading at new 2019 highs, pushing past the $46 level that contained a breakout back in April. Since AMAT's Dec. 26 bottom below $29, the stock has tacked on 65%. 

The options pits have heavily tilted in preference toward puts lately. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), AMAT's 10-day put/call volume ratio of 2.44 ranks 2 percentage points from an annual high, underscoring how the rate of put buying relative to call buying has been accelerated.

Now might be a good time buy options on the security, too. The chip stock's Schaeffer's Volatility Index (SVI) of 34% stands higher than only 28% of all other readings from the past year. This means near-term options are pricing in relatively low volatility expectations at the moment.

The U.S. has experienced historic levels of rainfall in 2019, and some on Wall Street see this as bad news for the boating business. Brokerage firm RBC this morning downgraded boat producer Brunswick Corporation (NYSE:BC) to "sector perform" from "outperform," and lowered its price target to $47 from $55. The analyst note said that dealers will likely be hesitant to take in new orders as they try to unload their inventory going into 2020. While RBC likes BC stock in the long term, these near-term weather issues could keep the shares range bound, the note said.

The equity has already had a rough stretch on the charts, falling from a September peak around $69 to almost $41 last month. The shares have been trading below their 50-day moving average since early May, last seen trading at $45.62.

Despite this technical weakness, analysts are very upbeat on the marine products specialist. By the numbers, 11 of the 14 covering firms recommend buying the security, and the average 12-month price target is all the way up at $64.14.

And while options activity overall is relatively quiet on Brunswick, sentiment seems bullish among speculators, as well. This is because peak open interest of 3,060 contracts is at the September 50 call, and most of these options crossed at the ask price, suggesting they were bought to open. If that's the case, these traders are hoping BC shares rise above $50 in the months ahead.

The shares of Biogen Inc (NASDAQ:BIIB) are up 0.9% at $236 after the firm said its spinal muscular atrophy treatment Spinraza was well tolerated in patients with the disease, with many seeing "unprecedented" motor milestones. The study also reported that 100% of children who participated were able to sit without assistance and 88% were able to walk. 

BIIB has taken a serious beating on the charts since suffering a massive bear gap in March. The stock hit a two-year bottom of $216.12 on March 25, but has since managed to consolidate atop the $220 level. The equity is still down 21% year-to-date, however. 

Analysts have been cautious on the stock, with 17 of the 24 considering it a "hold." Plus, the consensus 12-month target price of $252.81 is only at an 8.1% premium to current levels. Should some of these gains hold, however, a round of upgrades could put even more wind at BIIB's back. 

Options bulls, on the other hand, have been slightly more hopeful. BIIB sports a 10-day call/put volume ratio of 2.46 on the International Securities Exchange (ISE), Chicago Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio sits in the 86th percentile of its annual range, which indicates a much healthier appetite for calls over puts of late. 

Stocks are trading at all-time highs today thanks to the positive trade developments between the U.S. and China. Three names making big moves are financial data provider Cardlytics Inc (NASDAQ:CDLX), cosmetics concern Coty Inc (NYSE:COTY), and amusement park operator Six Flags Entertainment Corp (NYSE:SIX). Here's how the shares of CDLX, COTY, and SIX are trading today.

Bull Note Sends CDLX Shares to New High

CDLX shares are trading up 8.5% this afternoon at $28.20, earlier hitting an all-time high of $29.24, after William Blair began coverage with an "outperform" rating. The analyst note predicted the company to increase its monthly active users to 150 million from 58.5 million by the end of 2019.

This just extends what's been a huge year for Cardlytics, which came into 2019 trading just below $11. Today's price action also puts the shares above their average 12-month price target of $25.40, suggesting there's now room for more bull notes. Short covering could also provide tailwinds, since 14.5% of the total float is dedicated to short interest.

COTY Sells Off on Restructuring Plan

COTY stock is one of the biggest losers on the Street today, sliding 15% to trade at $11.40, after the company unveiled a four-year restructuring plan that includes writing down $3 billion in assets. This puts the shares back to the region where they initially consolidated after JAB Holding offered to increase its stake in the company back in February. As such, Coty is still holding a year-to-date lead of almost 75%.

Options traders seem well positioned for today's pullback, based on data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). The 10-day put/call volume ratio here is 2.47, and ranks in the 94th annual percentile, showing unusual demand for put buying in recent weeks.

KeyBanc Bets on SIX Stock Breakout

Six Flags stock is rallying today after a bull note out of KeyBanc. The brokerage firm upgraded its opinion to "overweight" from "sector weight," and set a $62 price target, citing credit card data that pointed to strong attendance trends for the company. The analyst note also pointed to the fact that last year's third quarter was particular weak, opening up favorable comps for the company in the next earnings report, and said that the company is making progress on new locations in China.

Despite the pop today, the shares are still in a long-term downtrend, facing a year-over-year deficit of 30%. Considering this, it's somewhat surprising to see eight of the 12 covering analysts have "strong buy" recommendations on SIX.

Amarin Corporation plc (NASDAQ:AMRN) stock is trading up 6.8% at $20.55 this morning, after the cardiovascular disease specialist said it expects 2019 revenue to arrive between $380 million and $420 million -- up from the previous $350 million estimate -- on improved expectations for Vascepa, with a Food and Drug Administration (FDA) expected to vote on possible expansion of the heart drug's label by the end of this quarter.

Today's upside puts AMRN shares above short-term congestion in the round $20 region. The drug stock has gained 47% year-to-date, with its recent chop higher supported by its 180-day moving average.

Options traders have been targeting the $20 level, too, with the July 20 call one of AMRN's most heavily populated strikes. Data points to a mix of buying and selling here, with those purchasing the calls betting on a breakout above $20, while those writing the calls expecting the level to serve as a near-term ceiling.

It's certainly a more attractive time to buy premium on short-term Amarin options, versus sell it. The stock's Schaeffer's Volatility Index (SVI) of 56% ranks in the bottom percentile of its annual range, meaning front-month contracts are pricing in unusually low volatility expectations at the moment.

The shares of Roku Inc (NASDAQ:ROKU) are down 3.7% to trade at $89.04 this morning, after some bearish analyst attention from RBC. The brokerage firm downgraded the streaming stock to "sector perform" from "outperform," while maintaining its price target of $90. The analyst in coverage is still bullish on ROKU long term, and said it "would be constructive again on any major stock pullback."

Roku stock has almost tripled year-to-date, culminating in a record high $108.32 on June 20. A recent retreat from here appears to be stalling near a 38.2% Fibonacci retracement of the stock's April through June rally, and should the shares bounce from here and resume their longer-term uptrend, an unwinding of skepticism could create tailwinds.

For starters, the 6.99 million shares sold short represents a healthy 8.6% of ROKU's total available float. Plus, seven of the 15 brokerages covering ROKU rate it a "hold" or "strong sell," while its consensus 12-month price target of $83.63 is a discount to its current perch. 

Meanwhile, options can be had for a bargain at the moment. The streaming stock's Schaeffer's Volatility Index (SVI) of 51% stands higher than only 7% of all other readings from the past year. This means near-term options are pricing in relatively low volatility expectations at the moment.

Healthcare stocks experienced volatile trading earlier this year as political leaders ramped up their push for Medicare for All in the U.S. While this issue could again be thrust into the headlines as the 2020 presidential election heats up, one brokerage firm believes it's identified HCA Healthcare Inc (NYSE:HCA) as a name that can withstand the sector uncertainty.

Specifically, SVB Leerink this morning released a note in which it said it's "very bullish" on the security, though it failed to provide a rating or price target. The firm said any weakness from talk of Medicare for All or drug pricing changes will only be a buying opportunity, calling attention to the company's "balanced capital deployment strategy." Leerink mentioned the announcement yesterday that HCA bought 24 urgent care centers in Texas.

Digging into the data around the healthcare stock, there was heavy put buying during the past 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), where the shares sport a 10-day put/call volume ratio of 6.08, which ranks in the 94th annual percentile.

However, it appears most of this activity was at the now-expired weekly 6/28 130-strike put. While near-term put open interest still outweighs call open interest based on the Schaeffer's put/call open interest ratio (SOIR) of 1.04, the annual percentile rank of 37% shows this reading is actually less put-skewed than normal. Peak open interest in the front-month July series sits at the 120 put.

On the charts, HCA shares were last seen trading at $133.98, below the $140-$144 region that's acted as a ceiling in the past year, though they're trading right above the 200-day moving average. Most analysts are already bullish, with 15 of 19 handing out "buy" or "strong buy" recommendations.

Healthcare stock Intuitive Surgical Inc (NASDAQ:ISRG) is slightly lower this morning on a comment from BTIG. The analyst predicted the firm's monopoly over the robotic surgery market may end in the coming years amid stiff competition from the likes of UK-based robotics firm CMR Surgical, which could receive Food and Drug Administration (FDA) approval for its Versius robot within two years. However, BTIG believes Intuitive will remain the market leader for the next five to 10 years. ISRG is set to snap its three-day win streak, down 0.4% to trade at $526.71. 

On the charts, the shares of ISRG have been attempting a comeback since gapping lower in late April, following an unimpressive earnings report. The stock subsequently bottomed out at a four-month low of $458.27 in early June. Lately the security has managed to find its footing atop its 60-day moving average, but has petered out at the $533 level several times in recent weeks.  

The majority of analysts are still incredibly bullish on the stock, with 13 of the 16 in coverage calling it a "strong buy." The consensus 12-month target price of $577.81, however, holds just a 9.7% premium to current levels. 

Options traders have taken an optimistic stance, too, with 1.47 calls bought for every put on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) during the last 50 days. This ratio sits in the 77th percentile of its annual range, suggesting a healthier than usual appetite for bullish bets of late. 

U.S. stocks are struggling to gain momentum today due to trade tensions. Meanwhile, three names making big moves are online retailer Revolve Group (NYSE:RVLV), drugmaker Dova Pharmaceuticals Inc (NASDAQ:DOVA), and auto retailer Cars.com Inc (NYSE:CARS). Here's a breakdown of what's moving the shares of RVLV, DOVA, and CARS.

Analysts Scramble to Issue Bull Notes on RVLV

RVLV stock broke out initially after its early June initial public offering (IPO), trading as high as $48.36 on June 19. The shares quickly pulled back to consolidate in the $32-$35 range for a few sessions, but today they're breaking out of that range, up 9.4% at $35.88. The move was sparked by a rush of analyst notes, as the stock's blackout period comes to an end. Almost all of the analyst notes were positive, with several analysts citing the company's path to profitability and its use of e-commerce data. The highest price target came from Jefferies, which called for a move to $60.

Options trading has picked up on Revolve, with new positions opening at the July 35 and 40 calls. Those buying the contracts are wagering on the security extending its upside through the next few weeks.

Bullish Betting Spikes After DOVA Jumps Again

DOVA stock is extending its recent run higher, after Evercore ISI upgraded its opinion to "outperform" from "in line," citing the recent Food and Drug Administration (FDA) decision for the company's blood disorder treatment Doptelet. The shares were last seen trading up 14% at $16.30, setting them up for their highest close since November. At the same time, the equity was trading above $30 this time last year.

So far today more than 2,100 calls have traded, compared to a daily average of just 594. It appears traders are closing positions at the deep in-the-money July 10 call, while other bulls could be buying the August 17.50 call.

Another Analyst Says to Buy Cars.com

Citigroup upgraded its stance on CARS shares to "buy" from "neutral," saying the stock's valuation looks too low even with the potential for a buyout -- something that was rumored at the beginning of 2019. The security is trading 5.6% higher at $20.98, but remains firmly in its long-term downgrade, topping out just below the 80-day moving average that has served as resistance since March. Oddly enough, Citi's rating matches the general opinion on the Street, where five of six covering firms say the underperforming equity is a "strong buy."

Call traders are also hammering Cars.com today, with the contracts crossing at four times the expected pace. A large chunk of the activity has taken place at the August 22.50 call, where new positions are being opened.