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writer, OptionMonster
Shares of Human Genome Sciences are up on the day Thursday and bringing in option traders.
HGSI stock [HGSI
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] is up more than 4 percent to $3.15 in early afternoon trading, well off the $3.44 high of the day that was reached just after the open. The shares have been strongly bullish since the low of just $0.45 back in March, putting the stock up more than 600 percent.
Today's options action focuses on the October expiration, where we see 4,100 of the October 5 calls purchased, the largest block for $0.80. OptionMonster's systems also show some of the October 2.50 calls sold, with one block of 1,000 going for $1.40, which will help offset the cost of the other calls bought by the same trader.
Options Trading School:
This is a clearly a longer-term bet that HGSI will climb back to levels seen last October, when the stock dropped from levels above $7 to below $2.50 in a month.
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Other Biopharma/Biotech Firms:
Amgen [AMGN
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Biogen Idec [BIIB
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Genzyme [GENZ
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Gilead Sciences [GILD
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Chris McKhann is an analyst and writer for OptionMonster.
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Data is a real-time snapshot *Data is delayed at least 15 minutes