Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Benzinga Insights

Cassava Sciences Whale Trades Spotted

Someone with a lot of money to spend has taken a bullish stance on Cassava Sciences (NASDAQ:SAVA).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with SAVA, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for Cassava Sciences.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $206,204, and 5 are calls, for a total amount of $152,755.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $20.0 to $100.0 for Cassava Sciences over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Cassava Sciences's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Cassava Sciences's whale trades within a strike price range from $20.0 to $100.0 in the last 30 days.

Cassava Sciences Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SAVA PUT TRADE BEARISH 08/19/22 $40.00 $72.5K 151 50
SAVA PUT TRADE BULLISH 05/20/22 $60.00 $48.6K 96 22
SAVA CALL SWEEP BEARISH 03/18/22 $50.00 $42.5K 871 86
SAVA CALL TRADE BULLISH 02/18/22 $50.00 $30.5K 3.7K 128
SAVA PUT SWEEP NEUTRAL 03/18/22 $45.00 $29.7K 234 31

Where Is Cassava Sciences Standing Right Now?

  • With a volume of 1,056,644, the price of SAVA is up 4.78% at $49.37.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 41 days.

What The Experts Say On Cassava Sciences:

  • B. Riley Securities has decided to maintain their Buy rating on Cassava Sciences, which currently sits at a price target of $72.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.