NVAX 10.5 put
B
0.23
Last
0.22–0.25
Bid – ask
1,721
Open interest
0.60
IV / RV
Why it scored B
Implied volatility is priced at 60% of what NVAX has actually realized over the last 30 sessions.
FDA decision Sep 12 lands inside the expiry window, and the options market is not pricing it as an event.
Spread is 3 cents on a 24-cent contract with 1,721 open interest; it needs +28.0% in the underlying to break even at expiry.
NVAX underlying, 30 sessions · strike drawn8.02 −18.5%
30 sessions ago · 9.8415Today · 8.02
Breakeven at expiry
10.27
+28.1% move needed
What 5× looks like
9.35
+16.6% by expiry, contract worth 1.15
Not financial advice. We don't execute trades or take a cut. Most contracts under a dollar expire worthless; size accordingly.