Options Traders Target Pharma Stock on FDA Buzz

The FDA found AstraZeneca's experimental RSV therapy to be safe

Deputy Editor
Jun 6, 2023 at 3:06 PM
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Options traders are blasting pharma stock AstraZeneca PLC (NASDAQ:AZN) today, after the U.S. Food and Drug Administration (FDA) failed to find any safety issues with the company's experimental respiratory syncytial virus (RSV) therapy for infections in infants.

According to FDA staff in documents published ahead of the Thursday committee meeting to discuss the therapy's marketing application, "the RSV prevention antibody, nirsevimab, showed an overall favorable safety profile in clinical trials." 

So far, 51,000 calls and 13,000 puts have been exchanged, volume that's roughly five times the average intraday amount. The July 75 call is the most popular, with new positions being opened bought to open. The second-most active contract, the June 72.50 call, is the most popular short interest position by far. 

AZN is flat today, last seen trading at $73.26. The stock isn't far off its April 25 record high of $76.56, but remains only up 8% year-to-date. 



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