![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjUL7mxm_8RCfA6IetP2Ym1mCm0ilA3atyluM9ZTIedShpyGRpVGpmdqMA3apbDh915JttzvmWCcLFCpcU-a-pypAOIXmOaquXCh-VcfGTgLvb65i98Luigu7AhnvXugRF4OeAt3a4Cu-Y/s400/enzn_summary.gif)
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).
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgWER2tZigBOphNGmMkoNgmnWlk7VnEVTAxaSfW3EFw8zkpvmQEDJdXhMine9U9WNWZjcDw2EKswF0_53NyQyKhHf1KlNoR3YiIXCnm-L67Atk23a7H4pvhScXwFQN8Rz0Ok9aEBVgWg3E/s400/enzn_company.gif)
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...
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEittOzjaGMlQoVnrUBU9Y0EiJ4bgFtN1N1R2ZlbPIRBt1kHzvB9f3Om4K812oP43um0kFIrBuv2S3MNQFfae6C4FAl23Tx2uLrJhD_kqw6Oncluaaon2HpsrsKHRzTlMlFGE8ikLvKWxm8/s400/enzn_trades.gif)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpsGIx4RJl01XXXmuy-EdPxwZFgAZW6fLLPy87EpfFwbgCXJp7lJnNQUN-avExwKqFubQZUDsztR5ywI8djy2hWE5z7gPwU3auz_BDg4tzPyjZLxwQtHcW37MQzRTWV0md3Yp8pVDvqa4/s400/enzn_options.gif)
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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