Small Cap Research
Catalyst Watch: Option Players Position for Replimune Cancer Drug Approval
Replimune (REPL) options positioning recently caught my eye as 5500 May $5 puts sold to open on 4/9 and 5000 August $10 ITM puts sold to open on 4/1 $2.45 down to $2.30. On 4/2 the August $12.50 calls sold to open 12,000X in spreads with the $7.50 puts bought 12,000X,...
Small Cap Biotech Draws Massive Call Buy as Possible Takeout Bet
Biohaven (BHVN) is a small cap that saw a massive trade to close last week as 10,000 May $20 calls bought at $3 to $3.30 with shares -45% YTD but managed to close the week strong out of a base and above a rising 8-MA. BHVN is also a name that has seen size buys from...
Small Cap Pain Management Company Attractive on Valuation
Pacira (PCRX) authorized a $300M buyback Thursday after the close as a $1.14B company and has quietly been a strong 2025 performer with shares +30% YTD. PCRX traded to $80 in 2022 and in 2024 as low as $11 with shares currently forming a multi-week bull flag on the...
Biotech Value Name Attracts Upside Positioning into Key Catalysts
Jazz Pharma (JAZZ) shares are down 17% YTD but a notable trade on 3/26 bought 500 October $130/$165 call spreads and on 4/11 May $105 calls bought 500X to open for $300K. JAZZ recently touched major support that marked lows in 2016 and 2020 and the CFO bought 12,000...
Unusual Call Buyers in Small Cap Self-Defense Tech Growth Name
Small Cap Options Flow Byrna Technologies (BYRN) is a small cap self-defense technology company that is rebounding off key support of the one year volume POC level near 15 last week and already quickly back over the 20 level closing Monday above its 200 day EMA as it...
Small Cap Pick and Shovels Winner on Growing Online Betting Industry
Gambling.com (GAMB) has been posting strong numbers for several quarters now and screens cheap while performing well, although down 16% YTD shares are up 35% in the past year and currently consolidating on a rising 200MA. Gambling.com Group Limited operates as a...
Small Software Company Targeting Solutions to Fight Crime
Cognyte (CGNT) on 4/1/25 with unusual buys of 1000 October $7.50 and 1500 October $10 calls, positions that continue to hold and are +60%. CGNT shares have held up well this year at +7% YTD and +40% over the past six months. CGNT was a $30 stock back in 2021 and has...
Unusual Put Sales in Specialty Materials Play with Exciting New Business
Rayonier (RYAM) in late March saw opening sales of 3500 August $6 puts, 1300 November $6 puts and 5000 April $6 puts which are mostly underwater at current prices. RYAM shares are -40% YTD and have pulled back to near long-term VPOC support at $4.25. RYAM manufactures...
Small Cap Data Center Power Supplier with Upside Optionality
Hallador Energy (HNRG) with an unusual options trade on 4/7 as 4500 December $6 puts sold to open $0.50 to buy 4500 of the $12/$20 call spreads at $1.70, net $1.20 debit for the bull spread with a $13.20 break-even and shares trading at $10.35. HNRG has quietly been...
Small Cap Cashless Payment Play an Attractive Grower
Nayax (NYAX) is a new Tech name that hit a value screen recently and also shows impressive relative strength with shares +18% YTD, so time to take a closer look at the Israeli company. NYAX is a prime beneficiary of the proliferation of cashless and self-service...