Biotech Stock Soars on Potential FDA Fast-Track

Call traders are finally taking an interest

Deputy Editor
Oct 4, 2022 at 1:58 PM
facebook X logo linkedin

The shares of Inhibrx Inc (NASDAQ:INBX) are soaring today, up 41.1% at $28.48 at last glance, after the company alluded to potentially accelerated U.S. Food & Drug Administration (FDA) approval of its treatment for rare lung disease. Jefferies noted that this is the best-case scenario for the treatment, called INBRX-101, which is being developed to treat patients with emphysema due to alpha-1 antitrypsin (AAT) deficiency.

Wall Street has been pessimistic towards the equity prior to today, and it appears that sentiment carried over into the options pits as well. Puts have greatly outweighed calls, as the latter has been virtually nonexistent. Today, however, 1,576 calls have crossed the tape, which is 175 times the intraday average, alongside 1,466 puts -- six times what's typically seen at this point. The October 30 call is the most popular, with new positions being bought to open there. 

On the charts, today's pop has INBX trading at its highest level since January, though the stock is still down 36.3% since the start of the year. The equity is also breaking above pressure at the 200-day moving average, which kept a lid on the shares' August rally. 


It's also worth noting that short interest makes up 13.3% of the stock's available float. It would take roughly seven days to buy back these bearish bets, at Inhibrx stock's average daily pace of trading. 


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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI