Strangle! Savient Pharmaceuticals (SVNT, news, chart, volatility) March 5 puts and 10 calls saw active trading Tuesday after a player bought the strangle 3,500x for $2.30. With shares at $7.18 at the time, and open interest increasing by more than 3,800 in both contracts, looks like a new position and perhaps a play on heightened volatility in the share price over the next few months.