Shares of Seattle Genentics, Inc. are down 1.04 to 43.81 today. ?SGEN is near the upper end of the 52-week range.
Today paper traded 2550 Jun 35 put/55 call combos for .25.? ADV is 1497 contracts.? The OI is less than 110 contracts per strike.
The volume went up in two blocks with some follow up volume pushing the numbers up to 2900+ contracts.? This is a protected position that turns a long stock position into a long call spread.? The large volume usually means there is some sort of stock tie in.
30-day implied volatility is 58%.? ?10-day implied volatility is 35%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
Seattle Genetics, Inc. is biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for cancer.