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.
- Options Tips from Jon Najarian
- Read The CNBC Stock Blog
- Options Tips from Pete Najarian
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.
Other Biopharma/Biotech Firms:
Chris McKhann is an analyst and writer for OptionMonster.