The shares of Teva Pharmaceutical Industries Ltd (NYSE:TEVA) are up 0.4% at $11.54 this morning, after the corporate introduced plans to launch a generic model of Merck’s (MRK) contraception gadget generally known as the NuvaRing®. In keeping with information from IQVIA as of November 2020, vaginal ring contraceptives just like the one Teva will produce have annual gross sales of over $837 million within the U.S.
The fairness has had a risky run on the charts of late. After pulling again to $9.65 to shut out 2020, TEVA shot up the charts to commerce as excessive as $11.90 by Jan. 13 — its highest degree since August. Over the past three months, the safety has added 23%, whereas its 10-day transferring common has already contained a minimum of two pullbacks for the reason that 12 months began.
In the meantime, the choices pits are bullish, as per the safety’s 50-day name/put quantity ratio of 22.17 on the Worldwide Securities Trade (ISE), Cboe Choices Trade (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio stands greater than 99% of readings from the previous 12 months, indicating lengthy calls are being picked up at a faster-than-usual clip.
So far as choices are involved, TEVA’s Schaeffer’s Volatility Index (SVI) of 56% sits within the low ninth annual percentile. This implies low volatility expectations are being priced into near-term contracts — a boon to potential premium consumers.