Novavax (NVAX) is bucking the bearish trend. Shares are up 90 cents to $3.40 and not far from session highs ($3.48) on news the Spanish government selected the company’s technology for a comprehensive flu vaccine program in Spain. Shares are rallying and options volume is running 4X the usual, with 5,900 calls and 987 puts traded (chart). July and January calls at the $2.5 strike are the most actives. July and August 5 calls are seeing interest as well.