Shares of Denderon Corp. (DNDN) are up .13 today to 2.07.? DNDN is trading near the bottom of the 52 week range.
Today paper traded 4000 DNDN May/Aug 4 combo rolls for .13. ?The ADV is 5164 contracts.? The OI is 11k on the May call side but less than 1000 on each of the other roll strikes.
The volume went up 4 large blocks.? The trader paid .13 to get long stock in May and short synthetic stock in Aug.? DNDN could continue to come under more short interest pressure as the stock is hard to borrow.? A potential short squeeze could be setting up.
?30-day implied volatility is 86%.?? 10-day implied volatility is 81%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
Dendreon Corporation (Dendreon) is a biotechnology company focused on the discovery, development and commercialization of therapeutics that may significantly improve cancer treatment options for patients.