Shares of Alexza Pharmaceuticals (ALXA) are trading lower on the session by 2.03%, at $4.58. The stock has been moving lower over the past three weeks following a test and fail at the 200-day moving average.
With implied volatility rising sharply over the past three weeks, one trader is selling upside on ALXA. A short while ago the January 2013 $11.00 call was sold 1,862 times, on the bid, for $0.50. With current open interest of only 10 contracts, this is clearly new positioning.
30-day and 60-day implied volatility are trading near 6-month highs, at 192% and 229%, respectively. 10-day realized vol is registering just 25.13%. At $0.50, the Jan13 $11.00 call was sold for 198% vol.
Alexza Pharmaceuticals, Inc. is a pharmaceutical company focused on the research, development and commercialization of products for the acute treatment of central nervous system conditions.