3/9/2011 3:20:01 PM
Glaxo (GSK) is up 32 cents to $38.48 and GSK puts are busy fo ra second day. The focus yesterday was in the Mar 37 puts, which traded 93 percent at the ask and created 5,948 contracts of new open interest. At 7,297, it’s now the largest position in the name. March 38 puts are today’s most actives. 5,798 traded (94 percent Ask) and open interest is 1,913. Implied volatility is up 5 percent to 22.5, as some investors seem concerned about possible downside in GSK shares through the March expiration (next week). It’s probably a play on HGSI’s lupus drug (decision expected March 10). According to Dow Jones, “Benlysta is one of the most important new drugs in Glaxo’s pipeline”.
No related posts.
Related posts brought to you by Yet Another Related Posts Plugin.
Tags: 798-traded, 948-contracts, article, close-article, focus-yesterday, important-new, largest, lupus-drug, play-on-hgsi, seem-concerned, shares-through, some-investors