A large trader is looking for current levels to hold in Infinity Pharmaceuticals.
optionMONSTER systems show that 4,000 March 14 puts traded in one print for $0.50 this morning. That price came between a wide bid/ask spread but was definitely on the bid side, indicating that it was sold.
The put seller is looking for INFI to be stay $14 in coming weeks. If the stock falls below that strike price, the trader is at risk of having to buy shares at that level. (See our Education section)
INFI is up 10.34 percent this morning to $15.43. The drug developer was as high as $16.70 this morning, regaining levels from October. Shares were at a 52-week low of $11.30 two weeks ago.
More than 5,200 INFI options have traded so far today, compared to the daily average of 373 for the last month.
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