1.1M Options Shares Bought 2 Days Left
Today, BCTX prior to its poster presentation this afternoon has had volatile trading moving around 20% with over 3 million shares traded.
More interesting, there have been 11,000 contracts for the April 14, 2022 options expiration purchased today for $0.50/contract at a strike price of $12.50. This represents 1.1 million shares betting stock will rise at least 30% to break even in next 2 days (rising from $10.05/share to $13 per share = strike of $12.50 + $0.50 option cost). This is very aggressive and constant, growing options pressure all day. I do not know anything except stock is very undervalued, but market or others seem to think a re-pricing is imminent - by this Friday.
I am long shares and am watching all this unfold today.