Options Expiration Weighing on Dendreon
by Jon C. Ogg
24/7 Wall St.
Dendreon (DNDN) has seen a lot of the old hyperactive trading volume come out of the stock now that it is post-FDA panel review and post-ASCO. The stock has barely traded 2 million shares so far this morning and there was only 1 day this week where shares almost traded 10 million shares.
The drag today outside of less ‘event trading’ is that today is also options expiration date. The June $7.50 Strike Price is trying to act as a magnet as that is the most active strike, the closest strike, and generally the one with the highest open interest. As of last look, the open interest for the $7.50 strike was more than 76,000 in the June-07 $7.50 calls and more than 48,000 in the June-07 $7.50 puts.
Continue article at 247WallSt.com
Related Reading:
- Cell Genesys Should Not Trade With Dendreon!
- Dendreon Taps Financing Sooner Than Expected
- Analysts Continue to Dump on Dendreon
247WallSt.com is a regular contributor to BioHealthInvestor.com
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