Market News

October 9, 2012  Tue 1:47 AM CT

Celsion is just below its all-time high, but one trader is looking for the pharmaceutical stock to fall back sharply.

optionMONSTER's Depth Charge system detected the purchase of 3,000 February 3 puts for $0.90. There was no open interest in the strike at the start of the session, so this is fresh buying.

CLSN fell 0.82 percent yesterday to close at $5.89, not far from its all-time high of $6.03 reached on Sept. 25. Shares of the oncology-drug developer have tripled in value since May on hopes for its ThermoDox therapy, a non-invasive cancer treatment that uses heat to target specific areas of the body.

Yesterday's put buyer appears to be positioning for the stock to revisit levels where it traded before running higher in the second half of this year. (See our Education section)
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