Biogen Idec Inc. (BIIB) $49.26 +0.04%
Biogen Idec (BIIB) is up a penny to $49.25 and 3175 Sep 50s traed, 77 percent hitting ask-side. Another 2900 Sep 55 calls, with 53 percent hitting at the offer. Similarly, ISEE sentiment is at 62 percent, with 1600 BIIB calls bought-to-open on the ISE today. A total of 9000 calls traded, which represents 4X the expected call volume. Looks like some investors expect a move BIIB to move higher before the September expiration (16 days). Implied volatility is moving as well, up to 37, from 33 late Tuesday. Co. announced today that it will be presenting at a Thomas Weisel Conference on Sept 10. Biogen also announced 70 platform and poster presentations from its MS franchise at the upcoming ECTRIMS convention in Dusseldorf, Germany from Sep 9 – 12.
Category: All Stocks, Large Cap Stocks, Pharmaceuticals & Biotechnology
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.
