Savient Pharmaceuticals (SVNT) adds a dime to $3.92 and 5,840 Jan13 $5 calls traded on the biotech. Open interest is 353 and the top trade (1500 at 75 cents on ISE) is an opening buyer, according to sentiment data. The bullish trading in SVNT comes after a 66.3 percent slide in shares since April.
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.