NEW YORK (AVAFIN) -- A record number of Arena Pharmaceuticals call contracts were traded during the busy trading session. There
were 3.3 call contracts traded for each put contract yielding a 0.30 put/call ratio
where 13,481 put and 45,015 call contracts exchanged hands.
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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
Shares of Arena Pharmaceuticals edged up $0.32 (+3.96%) to $8.40. The price of the stock ranged
between a low of $8.10 and $8.47 respectively. The trading volume of 23M is above
the 90 day average volume of 17M shares. The technical momentum Relative Strength Index indicator shows overbought conditions. ARNA is trading above the 50
day moving average. The stock's 52 week low is $1.23 and 52 week high is $8.65. To date, the stock has gained 26.89% within the last week.
Arena Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company committed to discovering and developing innovative therapies offering medical advances and new options for patients.