Confirmed screwworm case in Texas sends two biotech stocks higher

Key points

• In particular, Zoetis saw volumes surge.
• The company last year received conditional approval from the U.S. Food and Drug Administration for an injectable product that treats and prevents reinfestation of the pest.
• Last month, the FDA extended its support by issuing emergency use authorization for the over-the-counter drug.
• Options volume in Zoetis jumped to almost 20 times the daily average, with just under 12,000 contracts traded and almost 11,000 in calls.
• More than 4,200 calls were bought, compared with 1,200 calls sold and under 300 puts bought.