Sep. 16 at 10:17 PM
$KOD is seeing some wild action today
Big upside call buying into October with that Phase 3 DAYBREAK readout coming up
Stock's drifting a bit lower
We got roughly
$700K in October 16th
$70 calls trading via block and sweep
That's about 24 times the normal call flow and no put flow
Feels like a high-risk lotto play with all those far OTM strikes
IV is around 220% on these 30 DTE October calls so they're already pricing in some hefty event risk
Definitely not a spot for the faint of heart
If you're thinking of jumping in, keep it tiny or consider defined risk spreads
