MRNA options surge on vaccine hopes

What happened: On Monday, Novavax (NVAX) options saw unusually high volume, with 2.2 million shares traded, representing 53.6% of its average daily volume. Meanwhile, Moderna (MRNA) was highlighted by Jim Cramer for its strong performance, and Bank of America flagged international opportunities as a key growth driver for the company.

Market impact: This narrative is driving interest in vaccine stocks, particularly MRNA and NVAX. The surge in MRNA options is likely due to optimism surrounding its COVID-19 vaccine and the potential for international expansion. NVAX's increased options activity could indicate anticipation of positive developments, given its ongoing vaccine trials.

What to watch next: On May 4, Moderna reports its first quarter 2022 results, which will provide insights into its international COVID-19 vaccine markets. Additionally, the evolution of the pandemic and regulatory approvals for vaccines like NVAX's will shape the narrative around these stocks.