Pharma Stock Rises After Upbeat Covid Treatment Data

The equity's options pits are exploding with activity

Deputy Editor
Oct 14, 2021 at 1:51 PM
facebook X logo linkedin


NRx Pharmaceuticals Inc (NASDAQ:NRXP) burst onto the scene today, tacking on 35.3% to trade at $12.77 at last check, following the publication of peer-reviewed results from a controlled trial of NRx's drug, aviptadil. According to the company, the study reported 60-day survival in 81% of patients with critical Covid-19 who were suffering from respiratory failure, after the treatment.  

NRXP's options pits are exploding with activity in response to the news. So far, 25,000 calls and 6,921 puts have crossed the tape, which is 13 times the intraday average. The October 12.50 and 15 calls are the most popular, with new positions being opened at both. This means options traders are betting on more upside for the equity by the time these contracts expire tomorrow. 

Short interest is surging, up a staggering 80.7% in the last two reporting periods. The 2.15 million shares sold short still make up 11.4% of NRXP's available float, leaving plenty of room for a short squeeze.

On the charts, the shares have had a volatile run over the past 12 months. In late December, NRx Pharmaceuticals stock was trading at an all-time high of $76.99, while yesterday's session saw the security trade a new all-time low of $6.42. Now back above the 40-day moving average, NRXP is up 33.9% in the last three months.

NRXP Chart October 14

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!

 

 
 
 


 
 

Rainmaker Ads CGI