Cytokinetics's Options Frenzy: What You Need to Know
High-rolling investors have positioned themselves bearish on Cytokinetics CYTK, and it’s important for retail traders to take note.
This activity came to our attention today through Benzinga’s tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CYTK often signals that someone has privileged information.
Today, Benzinga’s options scanner spotted 9 options trades for Cytokinetics. This is not a typical pattern.
The sentiment among these major traders is split, with 22% bullish and 66% bearish. Among all the options we identified, there was one put, amounting to $78,210, and 8 calls, totaling $454,049.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $55.0 and $75.0 for Cytokinetics, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Cytokinetics options trades today is 2869.17 with a total volume of 1,920.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Cytokinetics’s big money trades within a strike price range of $55.0 to $75.0 over the last 30 days.
Cytokinetics Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CYTK | CALL | SWEEP | BULLISH | 10/18/24 | $4.6 | $4.1 | $4.6 | $55.00 | $108.2K | 4 | 408 |
| CYTK | CALL | TRADE | BEARISH | 01/17/25 | $5.7 | $5.2 | $5.2 | $75.00 | $79.5K | 13.0K | 348 |
| CYTK | PUT | SWEEP | BEARISH | 10/18/24 | $3.3 | $2.9 | $3.3 | $55.00 | $78.2K | 312 | 450 |
| CYTK | CALL | TRADE | BEARISH | 01/17/25 | $5.6 | $5.2 | $5.2 | $75.00 | $52.0K | 13.0K | 303 |
| CYTK | CALL | SWEEP | NEUTRAL | 01/17/25 | $8.8 | $8.6 | $8.6 | $60.00 | $46.4K | 1.4K | 32 |
About Cytokinetics
Cytokinetics Inc is a biotechnology company that develops muscle biology-driven treatments for diseases characterized by reduced muscle function, muscle weakness, and fatigue. The company develops treatments for diseases such as amyotrophic lateral sclerosis, heart failure, spinal muscular atrophy, and chronic obstructive pulmonary diseases. The treatment is based on small molecules specifically engineered to increase muscle function and contractility. The company is developing muscle-directed investigational medicines that may potentially improve the health span of people with devastating cardiovascular and neuromuscular diseases of impaired muscle function.
Having examined the options trading patterns of Cytokinetics, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Cytokinetics’s Current Market Status
- Currently trading with a volume of 246,671, the CYTK’s price is up by 3.37%, now at $55.88.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 48 days.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Cytokinetics options trades with real-time alerts from Benzinga Pro.
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