AAL

Illumina Stock Rises After Sale of Grail

ILMN has been rallying up the charts the past month

Deputy Editor
Dec 18, 2023 at 11:04 AM
facebook X logo linkedin


After over two years of antitrust battles, Illumina Inc (NASDAQ:ILMN) will sell its cancer diagnostic test maker Grail through a third-party sale of capital markets transaction by the second quarter next year. The company spun off Grail in 2016 and retained a 12% stake, reacquiring Grail in 2021 despite competition concerns from the U.S. government. 

Illumina has pared its greater premarket gains, now up 1.3% at $128.77. The stock is fresh off four-straight weekly wins, though still down 36.4% since the start of the year, with newfound support at its 80-day moving average -- a trendline that provided strict pressure in the spring. 

When speculating on ILMN's next move, options look like a reasonable way to go. The stock's Schaeffer's Volatility Index (SVI) of 51% ranks in the 28th percentile of its annual range, meaning options traders are pricing in low volatility expectations at the moment. The stock has tended to outperform these expectations as well, per its Schaeffer's Volatility Scorecard (SVS) of 87 out of 100. 

 

Same-Day Trading Power: +227% YTD and Counting  — Get in for $10!

We're celebrating 44 years of helping traders win, and you can now tap into one of our most explosive services — Dynamite Day Trading Signals — for just $10.

This service was built for one thing: capturing intraday gains with precision. 

Access two highly-vetted options trades each week -  Complete with defined entries, exits, and a clear plan for same-day profits.

👉 Click Here to Learn More and Position Yourself to Take Action When the Next Alert Hits.