Markets

Trader braves steep drop in Celsion

One big investor isn't scared of a drop in Celsion.

The micro-cap drug developer is down 11 percent to $2.49 today. It's not clear why shares are down, but the drop came after CLSN said it would continue a Phase III trial of its ThermoDox cancer drug.

optionMONSTER's monitoring programs detected the sale of about 2,800 December 2.50 puts for $0.20 against open interest of 207 contracts. The trade represents a bet that shares will remain above $2.50 through expiration. If they do, the investor will keep the premium and the puts will expire worthless. (See our Education section for more on market-neutral strategies)

More than 6,000 contracts have changed hands so far today, almost 6 times the name's daily average.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright © 2010 OptionMonster® Holdings, Inc. All Rights Reserved.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

CLSN

Other Topics

Options

Latest Markets Videos