Notable Put Options Activity in Onyx Pharmaceuticals

Shares of Onyx Pharmaceuticals ONXX are higher on the session by 9.19%, currently trading at $39.33. The stock has been moving largely higher over the past three months and is currently trading above the 50-day moving average. Options traders are focusing on puts today. A short while ago the January 2012 $35.00 put traded 2,000 times on open interest of 1,737 contracts. The Jan2012 $30.00 put also traded 1,000 times on 3,977 contracts. Put volume is outpacing call volume by 9 to 1. Onyx Pharmaceuticals, Inc. is a biopharmaceutical company engaged in developing therapies that target the molecular mechanisms that cause cancer. With the company's collaborators, Bayer HealthCare Pharmaceuticals Inc. the company is developing and commercializing therapies designed to exploit the genetic and molecular differences between cancer cells and normal cells.