Sinovac Biotech (SVA) sees a midday spike on volume and is up 77 cents to $9.63. Bullish flow detected in SVA options as well, with 5550 calls trading, or more than 2x the recent avg daily volume. Nov 10 calls are the most actives. 3196 traded (29 percent bid / 31 percent mid / and 40 percent ask). Implied volatility is elevated at 107.4 (-.4). Note: the biotech saw bullish flow last Friday as well on reports Beijing will extend an H1N1 flu vaccine innoculation to all the city’s 16 million residents. Shares are up 17.7 percent since that time.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.