Moderna Vaccine Gains Approval in Japan, South Korea

The stock is down despite the news

Assistant Editor
May 21, 2021 at 10:42 AM
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Japanese and South Korean regulators officially approved Moderna Inc's (NASDAQ:MRNA) Covid-19 vaccine, alongside the vaccine produced by AstraZeneca (AZN) and Oxford University. Moderna is drumming up extra buzz, however, as the company is considering manufacturing its vaccines in Japan. 

Moderna stock was last seen marginally lower, down 0.8% to trade at $164.67. The equity has been quite volatile in 2021, though several of these sharp pullbacks have been contained by the 120-day moving average. Plus, MRNA is up 59.1% this year, and boasts a 147.7% year-over-year lead. 

There's a penchant for puts in the options pits, according to the stock's 10-day put/call volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits in the 82nd percentile of its annual range. This indicates long puts are being picked up at a quicker-than-usual clip. 

Now may be the perfect opportunity to weigh in on MRNA's next move with options. The equity's Schaeffer's Volatility Index (SVI) of 60% stands higher than just 7% of all other readings from the past 12 months. This means option players are pricing relatively low volatility expectations. What's more, the equity's Schaeffer's Volatility Scorecard (SVS) sits at 85 out of a possible 100, implying Moderna stock has managed to exceed these volatility expectations during the past year -- a boon for option buyers. 

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