Puts Sold on Cell Therapeutics (CTIC)
August 13, 2010 1:12 PM
Shares of Cell Therapeutics, Inc. (NASDAQ: CTIC) are lower on the session by 3.84%, currently trading at $0.3635. The stock has been moving largely lower over the past six months, off from a high near $1.25.
Options traders are betting that the stock may be near a short-term low. The September $1.00 put was sold 5,000 times, on the bid, a short while ago; open interest on the strike is 8,735 contracts. This may be a closing transaction.
Put volume is now running at 44.21x the daily average.
Cell Therapeutics, Inc. develops, acquires and commercializes treatments for cancer. It focuses on building a biopharmaceutical company with a diversified portfolio of oncology drugs. Its research, development, acquisition and in-licensing activities concentrate on identifying and developing less toxic ways to treat cancer.
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