Trading Activity Alert for Elan Corporation,

Posted on 05/01/2012 by Peter Mankowitz


NEW YORK (AVAFIN) -- Elan Corporation, options contracts experienced a new 90-day record for call contracts where a total of 18,450 call contracts were traded in the busy trading session. The contract spread yielded a 0.53 put/call ratio where 1.9 call contracts were traded for each put contract.

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Put/Call ratio is often used to measure investor sentiment, the ratio serves as a predictor of investor behavior. A high put/call ratio suggests that the investor sentiment is bearish and that investors expect the underlying stock to decrease in value. In contrast, a low put/call ratio suggests that the investor sentiment is bullish and that the underlying stock is expected to increase in value. Unusual volume provides reliable clues that the stock is expected to make a move.

Elan's BioNeurology business received a boost when it drew J&J to take the reins of its Alzheimer's immunotherapy program (including lead candidate bapineuzumab) and establish an 18% equity stake in Elan. Additionaly, Now that a standstill agreement between Elan and Biogen Idec has expired, Biogen could offer a premium to Elan shareholders to take full control of Tysabri.

ELN is trading above the 50 day moving average and higher than the 200 day moving average. Shares of Elan Corporation, closed at $13.93, up $0.14 (+1.02%) in the last trading session. Today's volume of 3M shares is greater than the average volume of 2M shares.

Market Snapshot (05/01/2012)
  SPX 1405.76 7.85 0.56%
  DOW 13278.2 64.60 0.49%
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  VIX 16.6 -0.55 -3.21%

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