Highlights on Options Trading for Dendreon

Posted on 04/23/2013 by Norm Sorkin

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NEW YORK (AVAFIN) -- Unusual volume of DNDN put contracts exchanged hands yesterday between buyers and sellers. There were 0.6 puts traded for each call contract yielding a 0.64 put/call ratio. Specifically, 8,023 put and 12,621 call contracts were traded during the market session.

The ratio skew implies that investors are hedging their positions in anticipation of a stock move. Today's unusual volume activity confirms that traders are re-balancing their portfolios.

As a patient-specific therapy, Provenge is vulnerable to competition from experimental off-the-shelf cancer vaccines and antibodies that are easier to produce and suffer from less batch-to-batch variability. Additionaly, Dendreon's limited sales and distribution know-how may hamper Provenge's uptake, and its lack of manufacturing experience could expose the firm to damaging supply issues for its lone marketed drug.

DNDN is trading below the 50 day moving average and lower than the 200 day moving average. Dendreon opened at $4.64 and the stock price declined $0.04 (0.76%) to $4.56 during the market session. DNDN is trading between the range of $4.46 - $4.67. Within the last quarter, the shares have lost -27.10% of their value.

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