Puts Purchased on Endo Pharmaceuticals (ENDP)
July 26, 2010 12:01 PM
Shares of Endo Pharmaceuticals Holdings Inc. (NASDAQ: ENDP) are higher on the session by 0.58%, currently trading at $24.08. The stock has been moving largely higher over the past two months, but is nearing resistance right at these levels.
Options traders are buying puts on the name today, betting that that resistance level holds. The August $20.00 puts was purchased 2,800 times, on the offer, on open interest of 2,906 contracts. Put volume is now running at 9.42x the daily average with 100% of all puts traded being purchases on the offer.
Endo Pharmaceuticals Holdings Inc. is a specialty pharmaceutical company in pain management. The company is engaged in the research, development, manufacturing, marketing and sales of branded and generic pharmaceutical products used primarily to treat and manage pain, overactive bladder, prostate and bladder cancer and central precocious puberty.
