Shares of BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) surged 11.16% to close Tuesday’s trading at $16.43, after the company announced upbeat sales of its oral therapy drug, Orladeyo.
On CNBC's "Options Action," Mike Khouw of Optimize Advisors said that BioCryst Pharmaceuticals “depends heavily on that one drug,” with peak revenues estimated at $1 billion.
The stock traded more than 10 times its average daily call volume on Tuesday. Most of that activity was concentrated in the January strike 20 calls, Khouw said.
There were buyers of 14,800 contracts at an average price of 25 cents per contract, he added. Traders expect shares of BioCryst Pharmaceuticals to spike another 23% by the January expiration.
