Traders bet Infinity will hold gains

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Infinity Pharmaceuticals is up sharply today, and traders are betting that the stock will hold its gains.

The biggest trade came in the December 17 puts, where 3,257 were sold for the bid price of $0.65. Shortly after 3,000 January 16 puts changed hands, with a print of 1,725 sold for their bid price of $0.80.

The put selling is looking for current levels to hold firm in INFI. The traders are taking the risk of buying shares if they are below those strike prices. (See our Education section)

INFI is up 12.51 percent to $16.82 this morning. It was down at lows around $12 a month ago and is now back to levels from late September. 

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