Biogen (NASDAQ: BIIB) January call option implied volatility is at 31, February is at 31; compared to is 52-week range of 25 to 47 into an expected patent challenge decision to its top product, Tecfidera, a multiple sclerosis drug. Call put ratio 3 calls to 1 put with focus on February 295 calls into the expected release of quarterly results on January 30.