Shares of Vanda Pharmaceuticals Inc. (VNDA) are up .20 to 14.12 today.? VNDA is in the middle of the 52 week range.

Today paper traded 2000 VNDA Aug 14 puts at 1.10.? The ADV is 1696 contracts. The OI is 39 contracts.

The volume went up in one large block.? The option market at the time was $2.35 wide with the puts trading very near the bid.? This is most likely an opening put sale meant to catch the earnings cycle.? If it is ,the trade is very bullish.

?30-day implied volatility is 102%. ? 10-day implied volatility is 50%.? 30 day implied volatility is trading above the 10 Day Historical volatility.

Vanda Pharmaceuticals Inc. (Vanda) is a biopharmaceutical company. The Company is focused on the development and commercialization of products for the treatment of central nervous system disorders.