Celldex Therapeutics has climbed to all-time highs, and one trader apparently believes that the biopharmaceutical company will hold its gains.
optionMONSTER systems show that a trader sold 3,000 June 14 puts in one print for $0.17 this morning. This is clearly a new position, as the strike's open interest was just 83 contracts before the trade appeared.
The put selling is a bet that CLDX will hold above $14 through the June expiration at the end of next week. The seller is also willing to buy shares if they are below that level. (See our Education section)
The stock is up 2.39 percent to $14.92 today after hitting a lifetime peak of $15.29 just after the opening bell. It was below $14 at the start of Friday's session, which has been resistance previously, so the trader is betting that it will now be support.
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