Calls Purchased on Onyx Pharmaceuticals (ONXX)
November 08, 2010 1:08 PM
Shares of Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX) are higher on the session by 1.89%, currently trading at $30.20. The stock has been moving largely higher over the past five months, bouncing off of the $20.00 level and rallying back above the 50-day and 200-day moving averages.
Options traders are buying calls on the name today. Although action has been primarily in small lots, overall call volume is now running at 3.14x the daily average with 90% of all calls traded being purchases on the offer.
Traders are buying the $28, $29, $30, and $31 call strikes in multiple months.
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.
