Best Penny Stocks to buy? 3 With unusual options activity today

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When it comes to unusual options activity, Reddit, Twitter, and even stock market chat rooms seem to like this data. There are unusual option activity scanners that you can use to find stocks with irregular volume in their option chains. There are also websites like ours that sift through thousands of stocks to find irregularities.

If you’re wondering how to find unusual options activity, the first step is knowing where to look. Lucky for you, we’ve done some extra work and found some unusual activity today in a few penny stocks.

Penny Stocks to buy?

  1. Atai Life Sciences (NASDAQ: ATAI)
  2. MannKind Corporation (NASDAQ: MNKD)
  3. AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI)

Is unusual options activity significant?

According to some investors, options stream can help identify the underlying sentiment in specific stocks. When it comes to penny stocks – an already speculative environment – ​​the idea is that the flow of Put or Call options suggests bullish or bearish “bets” on the stock. Since options offer leverage, a significant position is believed to indicate directional potential. However, this is not 100% guaranteed. Options are also used to hedge existing stock positions.

Suppose a company has a large short position in a stock with a view to generating profits. This company could buy call options if earnings are positive instead of negative. This will allow the firm to take advantage of calls while adjusting its short position to even out potential losses that may result from a bad short trade. Instances like this will not “show up” when looking at the options volume. So, if you are using an unusual options activity, free or paid, keep that in mind.

Penny Stocks to buy now? 6 to watch under $1 this week

1. Atai Life Sciences (NASDAQ: ATAI)

Psychedelic stocks have performed about as well as marijuana stocks over the past few months. Given the general uncertainties surrounding the future of leisure legislation, massive adoption by investors has not necessarily been a trend. Nonetheless, that hasn’t stopped some from staking a claim in some expecting another gold rush.

Atai Life Sciences, a company backed by Peter Thiel, was recently honored. He specializes in the development of mental health therapies for the treatment of mental health disorders. Atai uses technology and psychedelic medicine along with other drugs to achieve this.

In its latest corporate results update, the company discussed its plans and goals for the year. He also shed light on specific phase trials, including his KUR-101 Phase 1 trial, which dosed the first patient for the treatment of opioid use disorder. The first results are expected later this year. Atai is also advancing its PCN-101 drug-drug interaction clinical study. The company wants to assess the pharmacokinetics of PCN-101 when used with other drugs for the treatment of treatment-resistant depression. In particular, a relative bioavailability study comparing the subcutaneous formulation to the existing IV formulation is expected to be initiated later this year.

ATAI Unusual Options Activity Today

Some interesting option streams have appeared today, which appear like a Straddle. This options trade includes buying call and put options at the same strike price. In this case, 5,562 contracts worth volume were made during the $5 Strike Calls & Puts. Typically, a Straddle strategy is neutral and is taken when a trader expects more volatile movement in one direction or the other. It’s a losing proposition if an underlying stock only moves sideways.

2. MannKind Corporation (NASDAQ: MNKD)

Another of the biotech penny stocks with unusual options activity today is MannKind Corporation. The company develops therapeutics for the treatment of endocrine and orphan lung diseases. Since May 12, MNKD stock has been on the move and has recently been helped by some M&A activity.

MannKind has announced that it has signed an agreement with Zealand Pharma A/S (NASDAQ: ZEAL) to acquire V-Go® for $10 million. There will also be milestones based on sales plus the cost of specific inventory included in the agreement. V-Go will be added to MannKind’s diabetes solutions portfolio. The portable once-a-day insulin delivery device helps users control their blood sugar levels.

Additionally, the acquisition is expected to close this month. As no other details have emerged so far, this could be a source of speculation for the market.

MNKD’s Unusual Options Activity Today

unusual options volume today MannKind Corp. Stock  MNKD

If you’re looking for unusual options volume today in MNKD shares, you’ll find it on strike calls at $3.50 expiring June 17th. As of the date of this article, more than 4,400 contracts have been negotiated. However, keep in mind that there are a significant number of sell contracts at the strike price of $2.50 at the same expiration. Although no considerable volume has achieved this (so far), it is worth noting.

3. AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI)

Food and agricultural stocks have been hot lately. This was not only the result of international sanctions on Russian exports. Recent news from India has also sent shock waves throughout the global supply chain. Earlier this month, the country announced a ban on wheat sales which it said was “to manage the country’s overall food security”.

In addition to wanting to maintain its own food supply, a heat wave has also swept across the country. This also had a direct impact on domestic production. Given the current state of the global food supply, companies exposed to this niche have gained momentum. AgriFORCE Growing Systems is one such company. He has built a platform around AgTech facilities and solutions focused on North American, European and Asian markets. The company provides food and plant-based products using sustainable AgTech solutions “from seed to table”.

Earlier today, the company announced the completion of its acquisition of the intellectual property of Manna Nutritional Group. This includes patent-pending technologies to process and convert grain into low-starch, high-protein baking flour.

Penny Stocks to buy now? Top short-term actions to watch

AGRI Unusual options activity today

unusual option volume today AgriFORCE AGRI stock

Options traders appear to have taken a shorter-term approach to AGRI stocks. If you look at the unusual options activity today, you will see a higher level of volume in the $3 calls expiring in a few days. There were just over 3,300 open interest contracts, but over 2,700 were traded at the time of this article.

Penny Stocks to Watch

Thanks to this year’s stock market crash, volatility reigns supreme. With this, it is essential to understand that trends can change quickly. Given the already volatile nature of penny stocks, any speculative trading could amplify the trend. If you’re looking for unusual options volume today, make sure you’ve also considered other trends that could impact specific businesses. For now, these are just a few of the most popular penny stocks today that have also seen an increase in options activity.

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Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com



Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com

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