|Bid||81.30 x 800|
|Ask||81.54 x 900|
|Day's Range||80.14 - 81.44|
|52 Week Range||32.95 - 86.58|
|Beta (5Y Monthly)||1.12|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 05, 2020 - Nov 09, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||93.15|
Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) today announced that on October 15, 2020, the Compensation Committee of its Board of Directors granted to seven new employees inducement stock options to purchase an aggregate of 66,475 shares of its common stock and 11,760 inducement restricted stock units ("RSUs"). The inducement stock options and RSUs have a grant date and vesting commencement date of October 15, 2020, and were granted as inducements material to the new employees entering into employment with Arena in accordance with Nasdaq Listing Rule 5635(c)(4).
Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) will present new data from the Phase 2 OASIS trial and its open-label extension for its investigative drug candidate etrasimod, a next-generation, once-daily, oral, highly selective sphingosine 1-phosphate (S1P) receptor modulator, in patients with moderately to severely active ulcerative colitis (UC) at the 26th Annual United European Gastroenterology (UEG) Week. Arena will also present preclinical data for olorinab, a peripherally acting, highly selective, full agonist of the cannabinoid receptor 2 (CB2), in development for the treatment of visceral pain in gastrointestinal (GI) diseases. UEG Week is taking place virtually October 11-13, 2020.
Shares of Arena Pharmaceuticals (NASDAQ: ARNA) saw some unusual options activity on Thursday. Following the unusual option alert, the stock price moved down to $74.06. * Sentiment: BULLISH * Option Type: SWEEP * Trade Type: CALL * Expiration Date: 2020-10-16 * Strike Price: $70.00 * Volume: 333 * Open Interest: 3658Three Signs Of Unusual Options Activity Exceptionally large volume (compared to historical averages) is one reason for which options market activity can be considered unusual. The volume of options activity refers to the number of contracts traded over a given time period. The number of contracts that have been traded, but not yet closed by either counterparty, is called open interest. A contract cannot be considered closed until there exists both a buyer and seller for it.The trading of a contract with an expiration date in the distant future is another sign of unusual activity. Generally, additional time until a contract expires increases the potential for it to reach its strike price and grow its time value. Time value is important in this context because it represents the difference between the strike price and the value of the underlying asset."Out of the money" contracts are unusual because they are purchased with a strike price far from the underlying asset price. "Out of the money" occurs when the underlying price is under the strike price on a call option, or above the strike price on a put option. Buyers and sellers try to take advantage of a large profit margin in these instances because they are expecting the value of the underlying asset to change dramatically in the future.Bullish And Bearish Sentiments Options are "bullish" when a call is purchased at/near ask price or a put is sold at/near bid price. Options are "bearish" when a call is sold at/near bid price or a put is bought at/near ask price.Although the activity is suggestive of these strategies, these observations are made without knowing the investor's true intentions when purchasing these options contracts. An observer cannot be sure if the bettor is playing the contract outright or if they're hedging a large underlying position in a common stock. For the latter case, the exposure a large investor has on their short position in common stock may be more meaningful than bullish options activity.Using These Strategies To Trade Options Unusual options activity is an advantageous strategy that may greatly reward an investor if they are highly skilled, but for the less experienced trader, it should remain as another tool to make an educated investment decision while taking other observations into account.For more information to understand options alerts, visit https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alertsSee more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Stocks That Hit 52-Week Highs On Tuesday * Stocks That Hit 52-Week Highs On Monday(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.