Volume Spike Investor

Myriad Genetics Inc. (NASDAQ: MYGN) is trading more actively than normal ahead of data on its Flurizan for Alzheimer’s Disease.  Shares are up 3.75% at $48.37 at 3:06 PM EST and we have seen 1,309,814 shares trade hands.  Some data has already been published last week in Nature.

Forbes noted yesterday that it observed a 5,000-lot call spread go through in the August contract, with a trader buying 50-strike calls for $5.20 against the sale of the 65 calls for $2.90.

Below is some of the activity in teh CALLS alone for a June strike, which as you know expire on Friday at the close.  The volume isn’t strong but the open interest is:
CALL        Vol    OpInt
$50.00    719    11,564
$55.00    1,481 11,682
$60.00    326    9,466
$65.00    315    11,271
PUTS         Vol    OpInt
$20.00    1,000  1,000
$22.50    472     1,595
$30.00    1,000  809
$35.00    1         9,594
$40.00    151    4,144
$45.00    533    3,229

Alzheimer’s is still one of the current untreated mega-blockbuster drug candidates out there and the only treatments available only delay or help minimize the onset and effects.

Jon C. Ogg
June 18, 2008