Upside Purchased as ZIOPHARM Oncology Pops (ZIOP)
Shares of ZIOPHARM Oncology (ZIOP) are moving higher this morning by 9.2%, trading at $4.75. The stock has been gyrating wildly over the past few days following a negative blog posted on Forbes.
One trader is taking advantage of the dip to buy upside calls on ZIOP. Shortly after the opening bell, the December $6.00 call was purchased 3,744 times, near the offer, for $0.75. There was no previous open interest on the strike.
30-day implied volatility is off 4.4% today to 141.53%. 10-day realized vol is registering just 43.26%. At $0.75, the Dec $6.00 strike traded at 153% vol.
Overall call volume is now running at 6x normal volume with 4,320 contracts traded.
ZIOPHARM Oncology, Inc. is a biopharmaceutical company that is engaged in the development and commercialization of small molecule and synthetic biology approaches to new cancer therapies.
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