Notable Put Options Activity in ARIAD Pharmaceuticals

Shares of ARIAD Pharmaceuticals

are higher on the session by 2.56%, currently trading at $11.62. The stock has been moving largely higher over the past three months and is currently trading above the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the May 2012 $8.00 put, which has traded 5,000 times on open interest of 157 contracts. The May2012 $7.00 put also traded 5,000 times on 37 contracts. Put volume is outpacing call volume today. ARIAD Pharmaceuticals, Inc. is a biopharmaceutical company focused on the discovery and development of drugs to provide therapeutic intervention in treating human diseases at the cellular level.