Onyx Pharma Pops; Puts Sold (ONXX)
July 26, 2010 10:48 AM
Shares of Onyx Pharmaceuticals Inc. (NASDAQ: ONXX) are higher on the session by 16.37%, currently trading at $25.02. The stock is shooting higher today on positive Phase II study results for its new blood-cancer treatment.
Options traders are selling puts on the name today. The August $22.50 and $20.00 puts were both sold over 1,000 times, on or near the bid, earlier in the session. Volume exceeded open interest on both strikes, indicating new positioning.
Put volume is now running at 20.51x the daily average.
Onyx Pharmaceuticals, Inc. is a biopharmaceutical company engaged in developing therapies that target the molecular mechanisms that cause cancer. With the company's collaborator, Bayer HealthCare Pharmaceuticals, the company is developing and commercializing anticancer therapies.
