Upbeat mid-stage trial data is blowing tailwinds for MRNA
Moderna Inc (NASDAQ:MRNA) stock was last seen up 15.4% to trade at $90.72, one of the best stocks on the Nasdaq today, after data from a mid-stage trial showed the company's experimental cancer vaccine with Merck (MRK), combined with immunotherapy Keytruda, helped melanoma patients reduce the risk of death or relapse after three years.
Moderna stock is on track for its best single-day percentage gain since December 2022. Despite the breakout, the shares are still carrying a 50.3% deficit for 2023, and are stalling out below their 80-day moving average, a trendline that hasn't been cleared on a closing basis since early February.
At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), MRNA's 10-day call/put volume ratio of 1.65 ranks higher than 87% of readings from the past year, meaning calls have been getting picked up at a quicker-than-usual clip.
Even more bulls are jumping on the bandwagon today. So far, 34,000 calls have swapped hands -- 21 times the intraday average volume -- compared to a meager 8,495 puts. Most popular is the December 90 call, followed by the 95 call in that series, with new positions opening at both.