Revance Therapeutics Inc (RVNC) Drug-Induced High Rewards Call Buyers

Revance Therapeutics Inc (RVNC) hit an annual high earlier on upbeat drug trial results

Oct 29, 2015 at 11:30 AM
facebook X logo linkedin


Revance Therapeutics Inc (NASDAQ:RVNC) announced earlier that its anti-wrinkle drug showed promise in a mid-stage study, and said it expects to launch a late-stage trial in the second half of 2016. Wall Street is reacting positively, as evidenced by the stock's nearly 30% midday jump to trade at $34.58. In fact, the shares have now more than doubled in 2015, and earlier topped out at an annual high of $36.89.

This is good news for recent call buyers. RVNC has racked up a call/put volume ratio of 2.33 during the last 10 weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). In other words, traders have bought to open more than twice as many calls as puts in recent months. Today, though, puts are crossing at 12 times the usual intraday rate, and outstripping calls by a slight margin.

Sentiment is upbeat among analysts, too, as all three firms tracking RVNC have doled out "strong buy" recommendations. Moreover, short sellers have been quickly unwinding their bearish bets, with short interest dropping by one-quarter during the latest reporting period. However, 9% of the equity's float remains dedicated to short interest, and would require 7.5 sessions to cover, at typical volumes. In other words, a continued unwinding of these positions could fuel further upside in Revance Therapeutics Inc (NASDAQ:RVNC) shares.
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI