Shares of Orexigen Therapeutics, Inc (OREX) are down .13 to 5.18 today. ?OREX is near the bottom of the 52 week range.
Today paper traded 10000 OREX Sep 5/7 call spreads for .72.? The ADV is 4421 contracts. The OI is 0 contracts.
The volume went up in 2 large blocks.? This is really the only trade in Sep of any real sized in a stock with very illiquid markets.? The pricing makes it look more like a buy of the call spread, possibly waiting for news on a new drug.
30-day implied volatility is 64%.?? 10-day implied volatility is 58%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
Orexigen Therapeutics, Inc. develops drug treatments for obesity and related disorders