Calls Sold on Medicis Pharma (MRX)
June 10, 2010 2:25 PM
Shares of Medicis Pharmaceuticals Corp. (NYSE: MRX) are higher on the session by 1.10%, currently trading at $21.98. The stock has been drifting lower over the past six weeks and is now trading below both the 50-day and 200-day moving averages.
Traders are taking the opportunity of increased premiums to get out of their long call positions today. The July $22.50 strike was sold 1,000 times on the bid; open interest on the strike is 1,024 contracts.
Call volume is running at 2.49x the daily average today.
Medicis Pharmaceutical Corporation is a specialty pharmaceutical company focused primarily on helping patients attain a healthy and youthful appearance and self-image through the development and marketing in the United States of products for the treatment of dermatological and aesthetic conditions.
