Options Traders Swarm Spiraling CureVac Stock

Options volume is running at 27 times what's typically seen at this point

Deputy Editor
Jun 17, 2021 at 10:33 AM
facebook twitter linkedin

One of the worst stocks on the Nasdaq this morning, the shares of CureVac BV (NASDAQ:CVAC) are spiraling, last seen down 48.8% to trade at $48.49. This comes after the German drugmaker reported lackluster results from a study of its experimental Covid-19 vaccine. The shot, known as CVnCoV, proved to be just 47% effective in a clinical trial, compared to 90% efficacy rates for other mRNA-based vaccines from Moderna (MRNA) and Pfizer (PFE).

Today's negative price action marks the first time the equity has traded below $50 since November 2020, as well as its worst single-day percentage drop since going public in August. Longer term, CVAC now sports a 55.1% year-over-year deficit.

With only three analysts in coverage, it will be interesting to see how the brokerage bunch responds to CVAC, when they do decide to initiate ratings. But given that of those three in coverage, the 12-month consensus price target of $67 is a 36% premium to its current perch, the stock could be at risk for bear notes in the immediate future.

Options traders are are responding to the disappointing news, with puts outpacing calls handily. In fact, in the first hour of trading, 9,470 puts and 6,778 calls have exchanged hands -- a whopping 27 times the average intraday amount. The monthly July 40 put and June 50 put are the two most popular, with new positions opening at each.


If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!



Special Offers from Schaeffer's Trading Partners