MRNA

Put Contract Overview: The $22.00 put contract for MRNA has a bid of 95 cents, allowing investors to buy shares at a cost basis of $21.05, which is a 12% discount from the current price of $24.87. There is a 70% chance the contract may expire worthless, offering a potential 4.32% return on cash commitment.

Call Contract Overview: The $27.00 call contract has a bid of $1.00, allowing investors to sell shares at that price after purchasing at $24.87. If exercised, this could yield a total return of 12.59%, with a 54% chance of expiring worthless, providing a 4.02% additional return.

Volatility Insights: The implied volatility for the put contract is 94%, while for the call contract it is 85%. The actual trailing twelve-month volatility is calculated at 67%, indicating a significant difference between implied and actual market conditions.

YieldBoost Concept: Both put and call contracts offer a "YieldBoost," with the put providing a 31.52% annualized return if it expires worthless, and the call offering a 29.35% annualized return under similar conditions, highlighting attractive options for investors.

Former FDA Commissioners' Opposition: A dozen former FDA commissioners have criticized a new plan by vaccine official Vinay Prasad to change vaccine approval standards, claiming it could undermine public trust and health safety.

Concerns Over Regulatory Changes: The proposed changes are seen as a significant shift that could hinder vaccine innovation and slow the introduction of improved vaccines, particularly in response to evolving viruses.

Impact on Vaccine Approval Process: The former commissioners argue that the new guidelines would impose a higher and more subjective approval standard, potentially creating barriers for new entrants in the vaccine market.

Delay in Vaccine Updates: Prasad's call for new studies on regularly updated vaccines, like flu and COVID, is viewed as a potential delay in delivering better-matched vaccines during outbreaks.