Notable Put Options Activity in Theravance

Shares of Theravance

are lower on the session by 7.29%, currently trading at $20.49. The stock has been moving largely lower over the past five weeks and is currently trading below the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the February 2012 $15.00 put, which has traded 2,100 times on open interest of 24 contracts. Put volume is outpacing call volume by 3 to 1. Theravance, Inc. is a biopharmaceutical company with a pipeline of internally discovered product candidates.