Interesting activity in two of the biotech ETFs. The iShares Biotech Fund (IBB) is down $1.11 to $61.96 and 5000 Mar 70 calls traded. The Biotech HOLDRS (BBH) fell $2.76 to $160.90 and 7,000 March 180 calls traded. Most of the volume is hitting at the offer and might be closing of short OTM calls as today’s volume doesn’t exceed existing open interest.