Amylin Pharmaceuticals (AMLN) is down 39 cents to $17.59 and recent trades include a buyer of 5000 Mar 22.5 calls at 45 cents each. More than 8,000 now traded. Implied volatility is up about 8 pecent, to 75 percent. The company reported earnings last week. Citigroup analysts upgraded the stock to Buy and raised their target to $27 from $14 ahead of the earnings. The firm said they’re optimistic of FDA approval of LAR and this considerably increases Amylin’s value. (Looks like today’s drop fills the gap on the chart from when Citi made their comments.)