Celldex Therapeutics (CLDX) is down 57 cents to $7.11, as some investors seem disappointed with the biotech’s four abstracts on data that will be presented at ASCO in June. However, while shares are down, options volume is 4X the average daily, with 9225 calls and 570 puts traded. The top trade is a block of 1000 August 7.5 calls at $1 on ISE, which might be a seller offsetting a position. However, a total of 2625 calls have been bought-to-open so far on the ISE, as some investors might be taking positions in the June 7.5 and 10 calls ahead of the ASCO presentations (June 4 -5). Others are probably closing some positions opened yesterday. 8645 calls traded in the name Thursday. Implied volatility rose to 178, from 166, and is back to 165 Friday morning.