Amylin (AMLN) adds 53 cents to $26.08 and one investor appears to be anticipating additional upside ahead of earnings, as 2500 Jul 20 puts were sold on the stock at 90 cens to buy 2500 Oct 26 – 30 call spreads for $2.05. AMLN surged 54.5 percent on news BMY made a bid for the firm. The company rejected the offer and has since hired bankers.
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.