CNBC Stock Blog

Options Riding Biopharma's Wild Stock Moves

Chris McKhann|writer, OptionMonster
WATCH LIVE

Shares of Human Genome Sciences are up on the day Thursday and bringing in option traders.

HGSI stock 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. '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

Biogen Idec

Genzyme

Gilead Sciences

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Chris McKhann is an analyst and writer for .

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