Genzyme (GENZ, news, chart, volatility) is seeing bullish order flow Wednesday. Shares are up $2.46 to $62.50 and pacing an advance in the biotechnology sector after Oppenheimer upgraded the stock to OutPerform with a $75 price target, saying they believe upcoming regulatory events could serve as positive catalysts for the share price. In the options market, volume is running three times the usual. The top trade of the day is a block of 3,000 January 50 puts for $1.00 traded on the PHLX, which was a customer sell order. The next three biggest trades printed early on the NYSE and appear to be part of a three-legged trade where an investor bought the January 65/72.5 call spread 2,000X for $2.30 and sold the same number of January 55 puts for $2.30.