Synta Pharmaceuticals Inc (SNTA) $8.63 -1.93%
Interest in Synta Pharmaceuticals (P/C Chart, news, volatility) May 7.5 puts and 12.5 calls continues. Open interest in the calls increased by 6,789 and in the puts by 4,765 following a day of active trading Friday. The top two trades: 3,131 May 12.5 calls ask-side for $2.65 and 3,073 May 7.5 puts for $3.60. Both traded on the PHLX and were part of a substantial strangle, according to a reliable exchange-floor contact. Similar action is being seen today, with this strangle bought 1000X in early action. It is possibly a volatility play ahead of Feb 9 presentatino at the CEO-BIO Conference.
Category: All Stocks, Pharmaceuticals & Biotechnology, Small Cap Stocks
Free Newsletter
If you enjoyed this article, sign up to receive more just like it.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
