Robert F. Kennedy Jr. will lead the Department of Health and Human Services
President Elect Donald Trump called on Robert F. Kennedy Jr. to lead the Department of Health and Human Services. Kennedy is the chairman of anti-vaccine nonprofit Children's Health Defense, and has positioned himself against immunization on several occasions. In response to the nomination, Pfizer Inc (NYSE:PFE) and Moderna Inc (NASDAQ:MRNA) shares are gapping lower.
PFE was last seen down 4.7% to trade at $24.79 -- its lowest level since April -- and is now on track for its fifth loss in the last six sessions. Shares currently carry a 12.6% year-to-date deficit and have been trading firmly below their descending 20-day moving average since late October.
MRNA is down 5% to trade at a four-year low $37.80 at last check, pacing for its third-straight daily loss and worst week since August. The 20-day moving average has been pressuring the shares lower since June, contributing to a steep 70% six-month deficit.
Drilling down to PFE's options activity, 55,000 calls and 51,000 puts have exchanged hands so far today -- four times the intraday average volume -- with new positions being opened at the most active November 25 put. MRNA has seen 9,515 calls and 13,000 puts traded so far, which is double the volume typically seen at this point. The most popular contract for the latter is the weekly 11/22 40-strike call, where new positions are also being opened.