NEW YORK (AVAFIN) -- Savient Pharmaceuticals options contracts experienced a new 90-day record for call contracts where a total
of 3,392 call contracts were traded in the busy trading session. The contract spread
yielded a 1.77 put/call ratio where 0.6 call contracts were traded for each put contract.
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Options are useful tools for predicting the movement of the underlying stock. Put/Call ratio
statistics serve as a useful predictor of investment sentiment, indicating what experienced
investors are doing in preparation for a move of an underlying stock. Thus, unusual volume
provides reliable clues that the stock is expected to make a move.
Shares of SVNT opened today at $0.85 and settled the day down $0.06 to $0.79
during the session. The day's trading range is between $0.79 and $0.88 respectively.
Within the last week, the shares have gained 2.57% of their value.
On the volume side, 557M shares were traded which is less
than the average volume of 1M shares. Savient Pharmaceuticals is trading below the 50 day
moving average and lower than the 200 day moving average. The stock's 52 week low is $0.66 and 52 week high is $8.03.