On CNBC’s “Options Action,” Michael Khouw of Optimize Advisors said that AstraZeneca plc. (NASDAQ:AZN) traded 3.9 times its average daily put volume on Tuesday.
The trade implied a move of about 3.6% in the stock by the end of the week, which is broadly in line with the average move in the last eight reported quarters, he added.
Check out other stocks making moves in the premarket.
There was a buyer of 2,500 of the November 11 weekly 59 puts at an average price of 31 cents per contract, Khouw stated. The trader expects AstraZeneca’s stock to tumble after the earnings report, he mentioned.
AZN Price Action: Shares of AstraZeneca declined by 0.38% to close at $61.33 on Tuesday.
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Photo: Courtesy of astrazeneca.com
