Two of the big COVID vaccine producers, Moderna (MRNA) and Pfizer (PFE), saw a significant amount of options activity last week. On one day, with MRNA down nearly 6%, its options traded 4x the normal volume. Most of the activity was still on the call side of things though, which tends to be a bullish signal.

After exploding higher in previous trading periods, MRNA’s share price finally turned down on what looked to be profit-taking activity. One large trader sold over 6,000 out-of-the-money calls before most of the pullback occurred.