High-rolling investors have positioned themselves bearish on Vertex Pharmaceuticals (NASDAQ:VRTX), 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 VRTX often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 12 options trades for Vertex Pharmaceuticals. This is not a typical pattern.
The sentiment among these major traders is split, with 8% bullish and 83% bearish. Among all the options we identified, there was one put, amounting to $55,692, and 11 calls, totaling $435,054.
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 $485.0 to $510.0 for Vertex Pharmaceuticals over the last 3 months.
Volume & Open Interest Trends
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 Vertex Pharmaceuticals'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 Vertex Pharmaceuticals's whale trades within a strike price range from $485.0 to $510.0 in the last 30 days.
Vertex Pharmaceuticals Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| VRTX | PUT | SWEEP | NEUTRAL | 08/30/24 | $4.4 | $4.3 | $4.4 | $485.00 | $55.6K | 10 | 150 |
| VRTX | CALL | SWEEP | BEARISH | 01/17/25 | $24.8 | $24.0 | $24.0 | $510.00 | $48.0K | 118 | 138 |
| VRTX | CALL | SWEEP | BEARISH | 01/17/25 | $24.4 | $23.7 | $23.8 | $510.00 | $47.4K | 118 | 2 |
| VRTX | CALL | TRADE | BEARISH | 01/17/25 | $25.1 | $24.3 | $24.5 | $510.00 | $44.1K | 118 | 250 |
| VRTX | CALL | TRADE | BEARISH | 01/17/25 | $24.8 | $24.1 | $24.1 | $510.00 | $43.3K | 118 | 156 |
About Vertex Pharmaceuticals
Vertex Pharmaceuticals is a global biotechnology company that discovers and develops small-molecule drugs for the treatment of serious diseases. Its key drugs are Kalydeco, Orkambi, Symdeko, and Trikafta/Kaftrio for cystic fibrosis, where Vertex therapies remain the standard of care globally. Vertex has diversified its portfolio through Casgevy, a gene-editing therapy for beta thalassemia and sickle-cell disease. Additionally, Vertex is evaluating small-molecule inhibitors targeting acute and chronic pain using nonopioid treatments, and small-molecule inhibitors of APOL1-mediated kidney diseases. Vertex is also investigating cell therapies to deliver a potential functional cure for type 1 diabetes.
Following our analysis of the options activities associated with Vertex Pharmaceuticals, we pivot to a closer look at the company's own performance.
Present Market Standing of Vertex Pharmaceuticals
- With a volume of 284,458, the price of VRTX is up 0.65% at $482.99.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 73 days.
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.
