The company has traded 3600 options today on daily average option volume of 295. Zero (0) puts have traded today - everything has been a call. The Company Tab snapshot is included below (click the image to enlarge).
The day's biggest trades and Options Tab snapshots below (click either image to enlarge) tell the story. There is a buyer of both Aug 7.5 and Aug 10 calls. Note the small OI relative to trade size - these are opening orders. This is referred to as a call "stupid" (a spread that is the same side twice). I don't have any great insight as to why they call it a stupid...
The Aug 7.5 calls are trading ~3.60 and the Aug 10 calls are trading ~1.85. I believe the 7's to be purchases because the biggest order (see image above) was 1261 for 3.60 vs 3.30 x 3.70 NBBO. This is clearly closer to the offer - probably cust purchases (similar analysis for the Aug 10s).
What's the News? (below provided by www.theflyonthewall.com)
Enzon opens Phase 2 study of PEG-SN38 for breast cancer
Enzon Pharmaceuticals announced that the first patient has been treated in the Phase 2 studies of PEG-SN38 for metastatic breast cancer. PEG-SN38 or EZN-2208 is Enzon’s PEGylated form of SN38, the active metabolite of the cancer drug Camptosar. The PEG-SN38 compound is currently being evaluated in a Phase 2 study for metastatic colorectal cancer.
Regardless of the stock and trading - I hope this one turns out to be a winner.
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