NEW YORK (AVAFIN) -- Amgen witnessed a record number of call and put contracts during the busy trading session. There
were 0.6 call contracts traded for each put contract yielding a 1.72 put/call ratio
where 11,482 put and 6,668 call contracts exchanged hands.
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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.
The trading volume of 6M is above the 90 day average volume of 4M shares.
Shares of Amgen edged down $0.38 (0.45%) to $83.94. The price of the stock ranged
between a low of $83.88 and $84.47 respectively.
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Amgen is a leader in biotechnology-based human therapeutics, with historical expertise in renal disease and cancer supportive care products. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and received approval for bone-strengthening drug Prolia/Xgeva in 2010.
