Notable Put Options Activity on ARIAD Pharmaceuticals

Shares of ARIAD Pharmaceuticals ARIA are higher on the session by 3.75%, trading at $12.18. 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 February 2012 $10.00 put, which has traded 3,500 times on open interest of 127 contracts. Put volume is outpacing call volume by 4 to 1. ARIAD Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of small-molecule drugs for the treatment of cancer. The company's lead cancer product, ridaforolimus is being studied in multiple clinical trials in patients with various types of cancers, including metastatic sarcomas, breast cancer, endometrial cancer, prostate cancer, and non-small cell lung cancer.