Pharmaceuticals & Biotechnology
Elan Corp ADR (ELN) $12.01 +0.17%
37,000 calls and only about 100 puts traded in Elan (ELN) on the heels of the company’s earnings report. Shares are up 3 cents to $12.02 and the top trade is a 25000-lot of Jan 10 calls for $2.35 per contact on ISE. A customer bought, to close, according to ISEE data, and is probably [...]
Astex Pharmaceuticals Inc (ASTX) $6.46 +1.73%
Astex Pharmaceuticals (ASTX) is up 12 cents to $6.47 and a Jan 5 – 10 bullish risk-reversal is opened on the biotech for even money, 2500X. Separately, a 5000-lot of Oct 4.5 puts trades on ASTX at 50 cents when the market was 45 to 55 cents. It also looks opening, but not clear if [...]
Achillion Pharmaceuticals Inc (ACHN) $7.26 -2.81%
Biotech Achillion is seeing heavy call volume of 3000 contracts this morning (vs 27 puts) as shares trade off nearly 3% at $7.26 following a press release regarding their Sovaprevir Hepatitis C drug. Nearly all the flow is in upside calls, including a 1000 lot of Sep15s bought for 20c (likely closing a 45cent sale [...]
Warner Chilcott PLC (WCRX) $13.77 -0.15%
Warner Chilcott (WCRX), the Irish pharmaceutical company, is down 3 cents to $13.76 and morning options trades on the stock include a sweep of 2,500 May 13 puts for 30 cents per contract. It’s an opening buyer, according to ISEE data. More than 3,000 traded and 30-day implied volatility in the options on the stock [...]
Acadia Pharmaceuticals Inc (ACAD) $12.05 -2.19%
Acadia Pharmaceuticals (ACAD) adds 28 cents to $12.04 and a Jan15 12-15 call spread trades on the stock for $2.40, 30000X. The activity probably rolls one leg of Jan 7.5 – 12.5 call spreads, bought for $1.40, 20000X on 3/1 and then another 10000X on 3/7. Shares have rallied 84 percent since that time and [...]
Illumina Inc (ILMN) $56.76 -1.58%
Overall market sentiment notably bearish this morning, with put:call near 1.2, well above recent 1:1 average level. Option flow in genetics firm Illumina is an exception, with directionally bullish call buying and a focus on the June60 strike. 1900 contracts so far, $2.35 avg price. Skew bent to call side. Earnings next wk.
Aegerion Pharmaceuticals Inc (AEGR) $37.17 -4.03%
Aegerion Pharmaceuticals (AEGR) drops $1.28 to $37.45 and an Apr – May 35 call spread trades on the stock for $1.60, 3500X. The spread has traded 4000X on the day and appears to roll a position in in-the-money April calls that were opened on 3/6 and 3/11. The activity at that time was rolling out [...]
Eli Lilly and Co (LLY) $57.10 -0.14%
Eli Lilly (LLY) is 13 cents to $57.05 and one investor bought 9000 Apr 52.5 calls on the pharmaceutical maker for $4.33 and sold the Jul 47 – 55 bearish risk-reversal at $2.53, 9000X. The activity probably rolls a position in an April 44 – 52.5 and April 49 – 52.5 bearish risk-reversals opened on [...]
Vertex Pharmaceuticals Inc (VRTX) $54.41 +0.65%
Vertex Pharmaceuticals (VRTX) adds 33 cents to $54.39 and a 1584-lot of May 55 calls trades on the biotech for $4.15 on ISE, followed by a 3100-lot of May 60 calls for $2.50. Both are opening customer buyers, according to ISEE data. 6,620 calls and 1,490 puts now traded on the biotech, which is 2.5X [...]
Pfizer Inc (PFE) $30.82 +1.23%
Pfizer (PFE) adds 37 cents to $30.82 and an investor bought 10,636 Apr 27 calls on the pharmaceutical company today for $3.80 per contract and sold the Jul 26 – 30 bearish risk-reversal at $1.22, 10366X. The activity probably rolls an Apr 24 – 27 bearish combo that was opened on Jan 24 when the [...]
