Huge put sale in Cell Therapeutics
Chris McKhann | [email protected]
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.