Sequenom (SQNM) loses 19 cents to $3.88 and a Jan 3 – 5 bullish risk-reversal is bought on the San Diego biotech for 13 cents, 7500X, to open. It’s tied to 350K shares at $3.86 and comes as shares fall back below a 50-day moving average. The stock had scored a one-month 17.4 percent gain prior to Thursday.
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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.