Arena Pharma (ARNA) Sees Early Pressure Following Recent Buying Frenzy
Tweet Send to a Friend
Up)
Arena Pharmaceuticals (Nasdaq: ARNA) is seeing a rare down day which, actually might not last too much longer based on how the stock is moving.
Option implied volatility is up 2.6 points from Wednesday's closed to 178 percent.
Shares are down about 3 percent on the session.
Traders have been buying Arena ahead of its FDA PDUFA meeting date for lorcaserin, its proposed obesity-fighting drug. Shares have more than doubled since a positive panel outcome for the drug on May 10th.
Shares have ended lower just five of the last 17 sessions.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Option implied volatility is up 2.6 points from Wednesday's closed to 178 percent.
Shares are down about 3 percent on the session.
Traders have been buying Arena ahead of its FDA PDUFA meeting date for lorcaserin, its proposed obesity-fighting drug. Shares have more than doubled since a positive panel outcome for the drug on May 10th.
Shares have ended lower just five of the last 17 sessions.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- J.P. Morgan (JPM) CEO Dimon Might Have Enough Votes to Stay Chairman - NY Times
- Investors Brace for Epic Herbalife (HLF) Short Squeeze
- 50-Day SMA Crossers 05/20: (ELN) (ACI) (AAPL) Above; (MRK) (TLAB) (CLSN) Below
Create E-mail Alert Related Categories
Insiders' Blog, Options, Trader TalkRelated Entities
Options
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
