Kenvue Inc (NYSE:KVUE) stock is up 3.9% to trade at $17.62 at last check, erasing some of yesterday's losses that followed the Trump administration connection between the use of acetaminophen -- the active ingredient of the company's Tylenol pain drug -- in pregnancy and autism. The link drew criticism from medical professionals, who claim it lacks scientific evidence.
Though KVUE is bouncing off yesterday's record low of $16.89, it still has work to do before recouping the 7.5% bear gap. The stock is trading firmly below the 20-day moving average, and carries a 23.3% year-over-year deficit.
While calls still outpace puts on an overall basis, the options pits have been much more pessimistic than usual. Over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), KVUE's 50-day put/call volume ratio ranks higher than 90% of annual readings.
Drilling down to today's options activity, 112,000 calls and 60,000 puts have crossed the tape already, which is six times the volume typically seen at this point. The most popular contracts are the November 19 and 23 calls, but new positions are being opened at the weekly 10/3 17.50-strike put.
