Nearing the halfway mark in today's session, here are the individual equity names with the most call and put buying on optionMONSTER's ActionTracker data system.
Dendreon (DNDN): Some 10,000 July 4 puts were bought for $0.30 as the drug maker pushed higher. That suggests investors are using the contracts to hedge new long positions in the stock. DNDN rose 4.75 percent to $4.21.
Microsoft (MSFT): An investor bought 14,000 January 2015 42 calls for $1.51 and sold an equal number of January 2015 37.50 calls for $2.91. Volume was below open interest at both strikes, so an existing bullish call spread may have been closed. MSFT rose 0.80 percent to $35.12.
Elan (ELN): A block of 5,000 July 12 calls was purchased for $1.60 as investors look for upside in the Irish drug maker. ELN fell 2.95 percent to $13.16.
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