Novavax, Inc. NVAX – Recap
We would like to kick things off this morning by circling back around to an options idea we had submitted last week. We targeted the NVAX 05/22 $38-40 Calls which saw their lows on Thursday and ran into this week, posting some really nice moves.
We wanted to highlight those, potential gains, although it would appear the stock’s run is over, so we likely won’t be tracking these into expiration. The company announced a huge capital raise this morning which is not being looked upon favorably by the investment community.
At any rate, the ranges on our NVAX targets from last week into this week were as follows:
NVAX 05/22 $38-40 Calls
$38: 3.08-20.86 (+122%)
$39: 2.67-20.00 (+246%)
$40: 2.10-20.00 (+293%)
LOW Weekly $120-125 Calls
WMT 05/29 $129-130 Calls
Verastem, Inc. VSTM
This biotech isn’t coronavirus related, and we have not done a whole lot of technical trading since the crisis started, but we do like where this play is on the chart at the moment.
It had come down to hold support near a previous bottom, stringing together some higher lows and higher highs this week, and we’re going to put it on our running watchlist going forward.
SPOM, SBDS, DECN, MMMM,