Viking Therapeutics Inc (NASDAQ:VKTX) is skyrocketing today, last seen up 22.3% at $84.62. The company said an early-stage trial of its experimental weight-loss tablet helped reduce patients' weight, while proving to be safe and effective, and that it will initiate a phase 2 trial later this year.
So far today, 33,000 calls and 16,000 puts have already traded hands, which is six times the volume typically seen at this point. The most popular contract is the weekly 3/28 100-strike call.
A continued sentiment shift in the options pits could generate even more tailwinds, as the equity's Schaeffer’s open interest ratio (SOIR) sits the 86th percentile of its 12-month range. This means short-term options traders leaned bearish coming into today. Plus, the shares look ripe for a short squeeze, with 11.9% of their available float sold short.
The security is pivoting higher from the $60, after pulling back from its Feb. 28, record high of $99.41. The security is today looking to snap a three-day losing streak with is best single-day percentage gain since February, and boasts an impressive 360% lead so far this year.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Click the link below and we'll send you MarketBeat's guide to investing in electric vehicle technologies (EV) and which EV stocks show the most promise.
Get This Free Report
