Sarepta Pharmaceuticals Inc (NASDAQ: SRPT) stock is plummeting down, down 31.4% at $16.77 at last glance. Though the biotech company reported an impressive revenue beat, a wider-than-expected loss per share and disappointing trial data for two gene-therapy treatments for Duchenne muscular dystrophy weighed.
SRPT is no stranger to outsized moves, having experienced several bear gaps this year. The shares had been creeping higher since their July 24, nine-year low of $10.41 -- with help from the company's restructuring plans -- but have now erased most of those gains. Since the start of 2025, the stock is down 85.7%.
Options traders are chiming in on the price action. So far today, Sarepta Therapeutics stock has seen 19,000 calls and 5,973 puts cross the tape. The November 25 call is the most popular contract, followed by the December 17.50 call, with new positions opening at the latter.
This represents a shift as traders buy in on the dip, with puts much more popular than usual coming into today. This is per SRPT's 10-day put/call volume ratio of 1.30 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than 89% of readings from the past year.
