Deep-pocketed investors have adopted a bullish approach towards Cassava Sciences (NASDAQ:SAVA), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SAVA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 18 extraordinary options activities for Cassava Sciences. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 44% bearish. Among these notable options, 14 are puts, totaling $1,005,809, and 4 are calls, amounting to $358,518.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $2.5 to $50.0 for Cassava Sciences over the recent three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Cassava Sciences'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 Cassava Sciences's whale activity within a strike price range from $2.5 to $50.0 in the last 30 days.
Cassava Sciences 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SAVA | PUT | SWEEP | BEARISH | 12/20/24 | $16.45 | $16.3 | $16.42 | $20.00 | $328.3K | 2.8K | 57 |
| SAVA | CALL | TRADE | BEARISH | 06/20/25 | $1.6 | $1.21 | $1.25 | $5.00 | $234.6K | 675 | 2.0K |
| SAVA | PUT | SWEEP | BULLISH | 12/20/24 | $16.45 | $16.3 | $16.4 | $20.00 | $136.1K | 2.8K | 362 |
| SAVA | PUT | TRADE | BULLISH | 01/17/25 | $14.0 | $13.85 | $13.85 | $17.50 | $74.7K | 5.2K | 54 |
| SAVA | PUT | TRADE | BEARISH | 12/06/24 | $12.0 | $11.5 | $12.0 | $16.00 | $60.0K | 103 | 50 |
About Cassava Sciences
Cassava Sciences Inc is a clinical-stage biotechnology company engaged in developing a scientific approach for the treatment and detection of Alzheimer's disease. Its therapeutic product candidate is called simufilam, and it is a novel treatment for Alzheimer's disease; and investigational diagnostic product candidate is called SavaDx, and it is a novel way to detect the presence of Alzheimer's disease from a small sample of blood, possibly years before the overt appearance of clinical symptoms. It is currently conducting two randomized placebo-controlled Phase 3 clinical trials of oral simufilam in patients with Alzheimer's disease dementia.
In light of the recent options history for Cassava Sciences, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Cassava Sciences
- With a trading volume of 25,393,267, the price of SAVA is down by -6.4%, reaching $4.02.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 92 days from now.
What Analysts Are Saying About Cassava Sciences
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $116.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * In a cautious move, an analyst from HC Wainwright & Co. downgraded its rating to Neutral, setting a price target of $116. * An analyst from HC Wainwright & Co. downgraded its action to Buy with a price target of $116.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Cassava Sciences options trades with real-time alerts from Benzinga Pro.
