Savient Pharmaceuticals Inc (SVNT) $1.85 -0.54%
Savient Pharmaceuticals (SVNT) is flat at $1.86 per share and one investor sold 5,000 Jan 2.5 calls on the stock at 25 cents per contract. It might be closing. Today’s volume, of 7,050, represents 22 percent of the open interest, which is 32,094 and the largest position in the biotech. Today’s call writer might be throwing in the towel on hopes for a move beyond $2.5 (~34.4%) through the Jan 2013 expiration after the two-week 12.3 percent slide in the underlying. SVNT is probing 52-week lows today — down 84 percent since April.
Category: All Stocks, Pharmaceuticals & Biotechnology, Small Cap Stocks
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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.
