Allergan (AGN) is off 48 cents to $60.44 and options volume is running 2X the average daily, with 3790 calls and 145 puts traded. The bulk of the volume is in the biotech’s January 65 and 70 calls, with 2275 and 1425 traded, respectively. In addition, with more than 95 percent of the volume traded ask-side, looks like buyers are dominating the action after Brean Murray analysts initiated the stock with a Buy rating and $75 price target. Open interest is sufficient to cover in both contracts. So, some of the action might be closing.