$NVAX gapping up +20% this morning, covid-19 vaccine play, phase 1 clinical trial news.
2 ways to play this:
1. look to short at premarket high and top of before the daily gap up, anywhere between 58.62 (PM high) and 61.50, target price is premarket low around 53 area. Risk 1: Reward 6
2. look to go long after breaking , and pull back. +80% gap fill within 2 days, enter near 60 area and target 80. Risk 3: Reward 20