Do Options Traders Know Something About Annexon (ANNX) Stock We Don't?

By Zacks Investment ResearchStock MarketsDec 30, 2021 08:30PM ET

www.investing.com/analysis/do-options-traders-know-something-about-annexon-annx-stock-we-dont-200613273

Do Options Traders Know Something About Annexon (ANNX) Stock We Don't?

By Zacks Investment Research | Dec 30, 2021 08:30PM ET

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Investors in Annexon, Inc. ANNX need to pay close attention to the stock based on moves in the options market lately. That is because the Jan 21, 2022 $17.50 Call had some of the highest implied volatility of all equity options today.

What is Implied Volatility?

Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.

What do the Analysts Think?

Clearly, options traders are pricing in a big move for Annexon shares, but what is the fundamental picture for the company? Currently, Annexon is a Zacks Rank #3 (Hold) in the Medical - Biomedical and Genetics industry that ranks in the Bottom 36% of our Zacks Industry Rank. Over the last 60 days, our Zacks Consensus Estimate for the current quarter has widened from a loss of 81 cents per share to a loss of 90 cents.

Given the way analysts feel about Annexon right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.

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Do Options Traders Know Something About Annexon (ANNX) Stock We Don't?

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