All eyes have been on vaccine stocks, including Pfizer Inc. (NYSE:PFE), AstraZeneca PLC (NASDAQ:AZN) and Moderna Inc (NASDAQ:MRNA), with the rapid spread of the Omicron variant.
One trader is betting on a sharp turnaround in Moderna’s stock, which has lost almost 12% since Thursday last week.
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On CNBC's "Options Action," Tony Zhang said that that Moderna traded around 1.3 times its average daily volume on Wednesday.
Around 84,000 contracts were traded, Zhang mention. There was a buyer of 700 September 330 calls, at an average price of $27.30 per contract, he added.
“This particular trader is betting $1.9 million in premium that the stock is going to be likely 42% higher between now and September (2022),” Zhang said.
