Options Traders Blast Dice Therapeutics Stock After Buyout

The security is trading at a fresh all-time high

Digital Content Manager
Jun 20, 2023 at 10:33 AM
facebook X logo linkedin


Dice Therapeutics Inc (NASDAQ:DICE) was last seen up 37.6% to trade at a fresh all-time high of $46.56, after Eli Lilly (LLY) revealed it will buy the immunology drug maker for roughly $2.4 billion, or $48 per share, in an all-cash deal that is a 40% premium to DICE's last close. 

The security burst through recent overhead pressure at the $36 level right out of the gate, which capped rallies last week and in May. DICE is now on track for their best single-day percentage gain since October 2022, and boasts a 226.5% year-over-year lead.

The equity's typically quiet options pits are abuzz today, with 1,068 puts and 783 calls traded so far -- a whopping 168 times the intraday average volume. The most popular contract is the July 45 put, followed by the 50 call in that series, with new positions opening at both. 

Meanwhile,  short interest is down 11.1% in the last two reporting periods. The 7.82 million shares sold short still make up 16.9% of Dice Therapeutics stock's available float, however, or over three week's worth of pent-up buying power. In other words, there is ample pessimism left to be unwound.

 

 

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