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