Learn the trade here. Make it on tradeMONSTER

Options Trading News

October 7, 2011  Fri 12:20 PM CT

CELG: SEE CHART GET CHAIN FIND STRATEGIES
Shares of Celgene are near multi-year highs, but option traders apparently believe that resistance levels will hold.

CELG trades at 63.11, down 0.4 percent. The biopharmaceutical company's stock hit a 52-week high of $65.86 on Sept. 20, which is resistance going back for at least three years. Shares have been on the rise since plunging to support at $52 in early August.

More than 5,000 November 65 calls were sold today against open interest of 1,259 contracts, according to optionMONSTER's systems. The largest block of 3,127 went for the bid price of $2.15.

We have seen a considerable amount of call selling in institutional size the last two days. It appears that traders are trying to capture high volatility premiums but don't see equities continuing the current rally.
Share this article with your friends


Related Stories

CELG

Cramer: Leadership comes back

October 22, 2014

Welcome back to the airlines and the biotechs. No market can rally hard without leaders, and these two groups have been integral to the huge multi-year run that we have seen.

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Webinar Playback

eSignal "Back in Black": Multi-Speaker Free Webinar

Education & Strategy

Some things aren't what they seem

As we scan the Heat Seeker, Depth Charge, and other option-tracking systems, we sometimes see heavy activity in calls and...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER