Elan Corp ADR (ELN) $14.20 +7.66%
Elan (ELN) is up $1.05 to $14.24 on high volume of 5.1 million shares after Irish Independent reported that a company Chairman made positive comments about Tysabri Alzheimer drug potential and discussed the potential for the company to become an M&A target. 12,000 calls and 3,70 puts traded on ELN, including an Oct 16 – 24 (1X2) call ratio spread for 70 cents, 1180X. Meanwhile, 30-day ATM vols are up 22.5 percent to 57.
Category: All Stocks, Mid Cap Stocks, Pharmaceuticals & Biotechnology
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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.
