Shares of Galena Biopharma (GALE) are trading flat on the session, at $2.23. The stock has been climbing higher for the past seven months, pushing to a fresh high of $2.34 this morning.
One trader is taking the opportunity to sell upside on GALE today. A short while ago the April 2013 $2.00 call was sold 2,375 times, on the bid, for $0.45. With current open interest at 260 contracts, this is clearly fresh positioning on the name.
Call volume is now running at 28x normal volume with 3,758 calls traded.
30-day implied volatility is of 8% today to 75.14%, while 10-day realized vol is registering 69.82%.
Galena Biopharma, Inc., formerly RXi Pharmaceuticals Corporation, is a biotechnology company focused on discovering, developing and commercializing therapies addressing unmet medical needs using targeted biotherapeutics.?