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October 3, 2013  Thu 2:45 AM CT

CTIC: SEE CHART GET CHAIN FIND STRATEGIES
An enormous put sale dominated yesterday's option activity in Cell Therapeutics.

A trader sold 10,000 December 1.50 puts in one print for $0.20, according to optionMONSTER systems. That compares to total open interest of 7,473 at all strikes, so this is clearly a new position.

The put seller is looking CTIC to stay above that $1.50 mark through expiration in mid-December. The trader also risks having to buy shares if they fall below that strike price. (See our Education section)

CTIC finished yesterday unchanged at $1.66, continuing to trade in an increasingly tight range. Shares of the cancer-drug developer were down at $1.10 three weeks ago.

The put sale made up almost all of CTIC's 10,198 total contracts yesterday, which was 25 times its daily avearge for the last month.
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