Puts Purchased on Onyx Pharmaceuticals (ONXX)
January 05, 2011 2:06 PM
Shares of Onyx Pharmaceuticals (NASDAQ: ONXX) are lower on the session by 0.38%, currently trading at $36.96. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages.
Options traders are buying puts on the name today. A short while ago the May 2011 $22.00 put was purchased 2,500 times, on the offer, for $0.25 on open interest of 4,561 contracts.
Overall put volume is now running at 4.25x the daily average with 100% of all puts traded being purchases on the offer.
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
