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Immunomedics seen holding up

Mike Yamamoto (mike.yamamoto@optionmonster.com)

A large trade is looking for Immunomedics to hold current levels for the next month.

optionMONSTER's tracking systems detected the sale of 5,000 March 4 puts in one print for $0.13 yesterday. This is clearly a new position, as the volume was well above the strike's open interest of 1,500 contracts before the trade appeared.

The put seller is looking for IMMU to stay above $4 through expiration four weeks from tomorrow, at which time the $0.13 credit would be kept as profit. If the stock falls below the strike price, the trader will be on the hook to buy shares at that level. (See our Education section)

IMMU lost 3.45 percent yesterday to close at $5.04. The biopharmaceutical company gapped above $6 early this year on testing for a pancreatic-cancer treatment but then fell for the rest of January until finding support around the $4.50 level this month.

Yesterday's put sale made up almost all of the option volume in Immunomedics, which was more than 6 times its daily average for the last month.

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