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Pfizer Inc PFE reported second-quarter results on Thursday, with sales reaching a record high.
On CNBC’s “Options Action,” Michael Khouw of Optimize Advisors said that Pfizer traded more than 2.85 times its average daily volume on Thursday.
Check out other pharma stocks making moves in the premarket.
There were buyers of 11,800 of the August 52.5-calls at an average price of 36 cents per contract, Khouw said. Traders expect shares of Pfizer to trade higher by August expiration.
There were also buyers of 5,000 calls for 55 cents per contract, betting that the stock will rise by 4% by the end of next week, Khouw further said.
PFE Price Action: Shares of Pfizer declined 1.61% to settle at $50.72 on Thursday.
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Image and article originally from www.benzinga.com. Read the original article here.