Spectrum Pharmaceuticals (SPPI) is off four cents to $12.72 and 5,000 Mar 13 puts are sold on the stock at 50 cents per contract. It might close, as open interest is 11,380 (biggest in the name) and the contract is 18 cents in-the-money after a 7-day 13 percent slide in shares. Earnings were reported on 3/1.
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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.