Celsion has been explosive, and traders remain bullish on the stock.
optionMONSTER's Heat Seeker monitoring programs detected the purchase of 2,250 February 12 calls for $1. Some 1,500 February 7 calls were sold for $2.15 at the same time, but volume was below open interest. That indicates that an existing position was closed in the 7s and rolled to the higher strike.
The investor probably bought those 7s when the shares were lower and is now adjusting the trade. He or she collected $97,500 in the process and now stands to profit further if the stock keeps climbing. The trade also increased the number of contracts owned at the higher strike, which will enhance leverage in a big move. (See our Education section)
CLSN rose 5.71 percent to $7.04 in morning trading and has more than tripled in the last six months. The stock has been climbing as investors bet on favorable data on its ThermoDox liver drug in January. There was also a bullish call roll last week into the February 10s.
Total option volume in the name is slightly above average so far, with calls outnumbering puts by almost 5 to 1.
More From optionMONSTER
- Anadarko Petroleum bull ups the ante
- Call spread sees cap on volatility fund
- Cramer: Don't dismiss Friday's surge
- Investment & Company Information