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November 20, 2013  Wed 9:23 AM CT

BMRN: SEE CHART GET CHAIN FIND STRATEGIES
Biomarin Pharmaceutical is up this morning, and one trader apparently believes that any downside will be limited in coming weeks.

optionMONSTER systems detected the sale of 2,480 December 60 puts for the bid price of $0.60. This is clearly a new position, as previous open interest at that strike was just 591 contracts.

The put seller is looking for BMRN to hold above $60 in the next month. The trader also takes on the risk of having to buy shares if they fall below that strike price by mid-December. (See our Education section)

BMRN is up 5.31 percent to $70.46 this morning. The stock has run up from support at that $60 level in the last week, bringing it back to the middle of its recent range. Shares were at a high of $80.67 in mid-September. 
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Options Academy: Ron's Risk Calculation--A Real Life Example

It is rare that I get a chance to give a real-life, real-time example in my articles that the readers were not only following but were actually involved in at the time the event is happening. Well, that is where we are right now in our QQQ trade from last week. Let's recap the trade itself.

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