Shares of EXACT Sciences Corp. (EXAS) are down .10 to 13.34.?? EXAS is in the upper end of the 52-week range.
Today paper traded 3795 EXAS Apr 15/16 and 17/18 call spreads at .05 and .15.? ADV is 1245 contracts.? The OI is 2693/3583/1998/3229 contracts.
The volume went in 4 blocks with subsequent volume now totally 4200+ for the rolling spreads.? The Apr 15 leg went up below the bid leaving the spread credits very low.? Overall the volume is much higher than the OI so this is nw paper but there is similar OI which means this could be a continuation of the trade.? The trade credits are very low given the size so it is hard to see what the end game is except for a modest credit on the spreads.? The IV is very high in Apr for this name.
30-day implied volatility is 80%.? ?10-day implied volatility is 54%.? 30 day implied volatility is trading above the 10 Day Historical.
Exact Sciences Corporation is a molecular diagnostics company focused on the early detection and prevention of colorectal cancer.?