Options Bulls Blast Pfizer Stock After Earnings

The popular vaccine stock is seeing a surge in weekly contracts today

Deputy Editor
Feb 2, 2021 at 1:55 PM
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The shares of Pfizer Inc (NYSE:PFE) are down 3.1% at $34.69 at last check, after the drugmaker reported  an earnings miss alongside better-than-expected revenue. Consistently in the spotlight thanks to its coronavirus vaccine, a myriad of updates have come out today in regard to that as well. One of the noteworthy items is Pfizer's expectation of $15 billion in revenue from the vaccine this year, as well as news that the company will be studying a vaccine booster that would occur 6-12 months after the first doses. 

On the charts, today's drop has the blue-chip stock falling below the 200-day moving average for the first time since early November. Since the start of this year, the stock has accumulated a 5.3% year-to-date deficit. 

On the analyst front, 10 of the 15 in coverage carry a lukewarm "hold" rating on PFE, with the remaining five a "strong buy." Meanwhile, the 12-month consensus price target of $41.49 is a 19.2% premium to current levels. 

Options traders are taking notice of today's news, with the options pits seeing double the amount volume typical at this point in the day. More specifically, 216,000 calls and 53,000 puts have crossed the tape so far. Most popular is the weekly 2/5 35-strike call, where new positions are being opened.

Lastly, the security's Schaeffer's Volatility Scorecard (SVS) sits at a high 97 out of 100, meaning SYF has exceeded option traders' volatility expectations during the past year -- a good thing for options buyers. 

 

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