Some encouraging happenings for INSM from yesterday
4/17: A call spread is looking for a rally in biopharmaceutical company Insmed.
optionMONSTER systems show that a trader bought 2,473 June 15 calls for $1.66 and sold 4,946 June 20 calls for the bid price of $0.48. The volume was more than 10 times the previous open interest in each strike, indicating new positioning.
This ratio spread cost $0.70, which is the most that can be lost if INSM remains below $15 through expiration in mid-June. The maximum gain would be realized if shares are right at $20 at that time. (See our Education section)
INSM is up 1.3 percent to $12.78 this morning. It bounced off support at $12 on Tuesday, its lowest level since August. Shares climbed to a high above $22 in mid-January.
Almost 10,000 INSM options have traded so far, triple its daily average for the last month.