The put-call ratio on NVS hit 2.69 on November 2, the highest reading in 52 weeks and 3.3 standard deviations above the 20-day mean of 2.06. That is a meaningful jump from a PCR that had sat between 1.79 and 2.32 for most of October, and it arrives alongside a short book that has grown 10% in a single week. Why this matters: These signals are moving in the same direction at the…
NVS Deutsche Bank downgrade to Sell from Hold; stock up 3.2% today, consensus still Buy with 12.4% upside.
Key data as of 14 Nov 2026
NVS Deutsche Bank downgrade to Sell from Hold; stock up 3.2% today, consensus still Buy with 12.4% upside.
A new long-form analysis for NVS this week — anomalies vs the company's own history, peer comparisons, news context, and the full data picture. Premium subscribers only.
Read on ORTEX →Sign up for premiumThe most striking data point around NVS's October 27 results is not its short book, which is modest, but the put/call ratio, which has jumped to its highest level in nearly a year. Options positioning has turned…
Options traders are loading up on puts. Short sellers are adding positions at the fastest weekly pace in months. Yet the borrow market is saying the opposite — availability has loosened, not tightened. That…
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