Oscar Health Inc (NYSE:OSCR) is sitting out today's broad market rally, last seen down 15.9% to trade at $14.98. Healthcare stocks across the board are feeling the pain, after President Donald Trump called for funding to be redirected to the individuals.
The remarks come fresh on the heels of buzz that the government shutdown will soon be at an end, with Obamacare -- of which Oscar Health was borne out of -- subsidies in limbo. Sector peer Centene (CNC) is also lower today.
This is poised to be OSCR's worst single-session decline since July 2. The shares have finished higher only once in the last 10 trading days, and have taken a 35% haircut off their Oct. 7 four-year high of $23.74. Year to date, the stock is still up nearly 13%.
Short-term traders have been extremely bearish. The equity's Schaeffer's put/call open interest ratio (SOIR) of 1.16 stands in the 90th percentile of readings from the past 12 months.
A premium-selling strategy could be the move going forward, as OSCR's Schaeffer's Volatility Scorecard (SVS) checks in at a 8 out of 100. This means the security has consistently realized lower volatility than its options have priced in.
