Trader make bet on Celgene
An option trader made make a big bet Thursday on a rise in Celgene (CELG). At 10:10 this morning, 2,000 contracts of the October 100 call changed hands, against open interest of 135 contracts. That trade went off high in the spread, indicating that it was likely initiated from the buy side.
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About Celgene Corporation
Celgene is a biopharmaceutical firm that discovers, develops, and markets therapeutics for the treatment of cancer and immunological diseases. Celgene markets Thalomid and Pomalyst to treat multiple myeloma and Revlimid, a less toxic thalidomide derivative, to treat myelodysplastic syndromes, multiple myeloma, and mantle cell lymphoma. Acquisitions have brought MDS drug Vidaza, T-cell lymphoma drug Istodax, and cancer drug Abraxane. The firm's first immunology drug, Otezla, was approved in the U.S. in 2014. Recent acquisitions of Juno and Impact bring additional drugs for Celgene's blood cancer pipeline.