Options Players Hone in on Celgene Corporation (CELG)

Posted on 04/24/2013 by Allen Bersch

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NEW YORK (AVAFIN) -- Celgene Corporation options contracts experienced a new 3-month record for both call and put contracts where a total of 16,499 call and 13,399 put contracts were traded in the busy trading session. The contract spread yielded a 0.81 put/call ratio.

Put/Call ratio is often used to measure investment sentiment, the ratio serves as a predictor of investor behavior. Unusual options volume provides reliable clues that the stock is expected to make a move.

Celgene is a biopharmaceutical firm that discovers, develops, and markets therapeutics for the treatment of cancer and immunological diseases. Celgene markets Thalomid to treat multiple myeloma and Revlimid, a less toxic thalidomide derivative, to treat myelodysplastic syndromes and multiple myeloma. Acquisitions have brought MDS drug Vidaza, T-cell lymphoma drug Istodax, and breast cancer drug Abraxane.

Revlimid sales cannibalize sales of Thalomid, stunting initial sales growth in the multiple myeloma market. Additionaly, The cost of Revlimid--now approaching $100,000 a year in the U.S.--fuels legislator and health insurer debates regarding cancer drug pricing.

CELG is trading above the 50 day moving average and higher than the 200 day moving average. Celgene Corporation opened at $124.45 and the stock price declined $7.72 (6.13%) to $118.28 during the market session. CELG is trading between the range of $116.80 - $124.69. Performance indicators show that the stock has gained 11.38% within the last month.


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