Let’s take a look at what the option flow is telling us.
One option scan I like to use is the “Insider Bulls” scan on the Options Matrix. This scan looks for stocks that have relatively high insider ownership and then scans for options with high executed volume on the day.
One stock whose options show up multiple times in this scan is Sorrento Therapeutics (SRNE).
The $7 and $7.50 calls expiring Friday saw large volume on Tuesday. SRNE closed at $6.87, so the high open interest in those weekly out of the money calls tell me that at least one person is making a large bet on SRNE jumping again this week.
SRNE is up 10% since last Thursday, but has been up and done over the last several weeks.
Here are a few other names showing up in that scan:
