NEW YORK (AVAFIN) -- Arena Pharmaceuticals options set a new 90-day record for the number of call contracts that exchanged
hands between the buyers and the sellers. Aggregate volume of puts was 28,035 and calls
was 65,810 equating to a 0.43 put/call ratio.
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Investors use options to manage risk and to speculate on price changes. Options can provide
significant leverage if the stock moves in the right direction but aslo end up worthless if it
doesn't.
Shares of Arena Pharmaceuticals rose $0.20 (+2.47%) to $8.07 in today's trading session.
The price of ARNA ranged between $7.71 - $8.65. Volume is 56M in relation to the three
month average volume of 15M shares. The technical momentum Relative Strength Index indicator shows overbought conditions. ARNA is trading above the 50 day
moving average and higher than the 200 day moving average. The stock's 52 week low is $1.23 and 52 week high is $7.92. To date, the stock has gained 351.12% within the last quarter.
Arena Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company committed to discovering and developing innovative therapies offering medical advances and new options for patients.
