Bulls take a dose of Northwest Biotherapeutics
Northwest Biotherapeutics got some good news yesterday, and the bulls were on board.
optionMONSTER's Heat Seeker monitoring program detected the purchase of more than 3,500 January 9 calls for $0.75 to $0.85. Volume surpassed previous open interest of 2,968 contracts, which indicates new money was put to work on the long side.
Calls lock in the price where investors can buy shares in the drug developer, letting them cheaply control a move to the upside. They can also generate significant leverage if the stock continues to rally. (See our Education section.)
NWBO rose 3.37 percent to $6.74 yesterday, and at one point was up more than 8 percent. The move came after European regulators let the company enhance an ongoing trial of its cancer compound. Management also said that additional patients were added to the study.
The stock peaked over $9 in June, and climbed from under $3.50 in December.
Total option volume was quadruple the daily average, with calls outnumbering puts by more than 10 to 1.
More From optionMONSTER
