iShares Biotech Fund (IBB) came under pressure yesterday on concerns over legislation that could potentially hurt companies in the sector. IBB fell 3.4 percent in midday action. Today, however, biotech stocks are seeing relative strength after Roche finalized its bid for Genentech (DNA) and Gilead (GILD) said it was buying CV Therapeutics (CVTX) . The exchange-traded fund made up all Wednesday’s losses and more. IBB is up $3.10, or 5.2 percent, to $63.33 and trading is brisk in IBB April and June calls at the $70 strike.
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iShares Nasdaq Biotechnology Index Fund (IBB) $63.40 +5.26%
Posted on March 12th, 2009 2:32 pm
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2 users commented on " iShares Nasdaq Biotechnology Index Fund (IBB) $63.40 +5.26% "
Follow-up comment rss or Leave a TrackbackI discovered 2 other indexes as well.
.BTK (Biotech standard options), and .NBI (Nasdaq Biotech fund apppears to have options on Fidelity as well, but haven’t traded anything but the BTK myself).
I’m the lonely person with a .BTK 600 strike contract I guess (on the front month) – purchased it 2 days ago, but glad to see IBB calls being traded.
I prefer the BBH. More strikes and a little more liquid then BTK, but BBH is an exchange-traded fund (HOLDRS). Not an index like the BTK.