Notable Put Options Activity in Achillion Pharmaceuticals

Shares of Achillion Pharmaceuticals

are higher on the session by 5.54%, currently trading at $5.91. The stock has been moving largely higher over the past two months and is currently trading above the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the December 2011 $5.00 put, which has traded 1,030 times on open interest of 3,485 contracts. Put volume is outpacing call volume by 4 to 1. Achillion Pharmaceuticals, Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for infectious diseases. Within the anti-infective market, the company concentrates on the development of antivirals for the treatment of chronic hepatitis C and the development of antibacterials for the treatment of resistant bacterial infections.