4 Biotech Stocks Seeing Unusual Options Volume Today

Four pharmaceutical and biotech stocks are seeing unusual options activity today, with Inovio Pharmaceuticals Inc (NASDAQ:INO), Aquestive Therapeutics Inc (NASDAQ:AQST), X4 Pharmaceuticals Inc (NASDAQ:XFOR), and Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) all drawing elevated volume. Options sentiment is split, however, despite mostly positive price action.

INO stock is up 5.3% to trade at $1.99, extending yesterday's surge after the Food and Drug Administration (FDA) granted accelerated approval to VOCERYQ to reduce surgery frequency in adults with recurrent respiratory papillomatosis (RRP). Options volume is running at 5.8 times the usual intraday pace, with 20,708 contracts exchanged. Traders are leaning bearish, however, with negative net option delta volume of roughly 62,000 shares.

AQST is up 3.4% at $3.90, though shares have shed 14.3% over the past month. So far, 5,080 options have changed hands, double the average intraday amount. Sentiment is bearish, with net option delta volume sitting at negative 3,000 shares.

XFOR is trading flat at $3.34, after recovering from its mid-October lows. Options volume is running at 2.9 times the typical intraday pace, with 3,838 contracts exchanged. Traders are taking a bullish stance, with positive net option delta volume of roughly 40,000 shares.

JAZZ is leading the group higher, up 8.6% to trade at $232.94, after the company reported record third-quarter revenue, helped by its Ziihera and Modeyso treatments. Options volume is running at 6.6 times the usual intraday amount, with 2,108 contracts traded so far. Sentiment is also bullish, with positive net option delta volume of roughly 11,000 shares.