Arena Pharmaceuticals (P/C Chart, news, volatility) has been running higher today and is up 72 cents to $5.45. Total options volume is running at 21X the average daily levels. 6,888 cal and 1,349 puts traded. Top trade of the day is 3,060 Jan 2010 calls at the $7.5 striek for $2.10, when the bid-ask spread was $1.85 to $2.20. The rest of the day’s trades have been in fewer than 180 contracts and scattered (Apr 10, Apr 7.5, Jul 10)
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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.