There was a significant amount of unusual options action this past week in Pfizer (PFE). The pharmaceutical giant posted earnings during the week, which resulted in over 12x the numbers of average options traded on the day of the release.
More impressively, 94% of the action was in calls, which is generally a very bullish sign. The company’s guidance for earnings from the Covid-19 vaccine was much better than expected. One interesting trade from the day was a large covered call trade expiring the first week in September.
— Jay Soloff
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Source: Investors Alley