Sep. 3 at 3:44 PM
$BNTX looking rough right now
Negative news on their oncology pipeline is hitting hard
Combine that with the new Form 144 filing for Medine GmbH wanting to resell up to 858k ADSs and you've got a recipe for a supply overhang that might squash any rally attempts
Back on 8/28, we saw a sweep of about 402 Sept 18
$100 puts showing some serious institutional hedging
Feels like they're prepping for downside, not upside
Today's small far-OTM call sweep seems more like a cheap lotto ticket than a strong bullish signal
With all this in play, leaning cautious or considering premium selling strategies like covered calls makes more sense than going heavy on long positions