NEW YORK (AVAFIN) -- Arena Pharmaceuticals options contracts experienced a new 90-day record for call contracts where a total of 31,940 call contracts were traded in the busy trading session. The contract spread yielded a 0.23 put/call ratio where 4.3 call contracts were traded for each put contract.
Put/Call ratio is often used to measure investment sentiment, the ratio serves as a predictor of investor behavior. Unusual options volume provides reliable clues that the stock is expected to make a move.
The last trading session witnessed a low of $8.33 and high of $9.37 during the day. Shares of Arena Pharmaceuticals slipped $0.97 (10.40%) to $8.36. The current trading volume of 16M is less than average volume of 25M shares. The stock's 52 week low is $1.23 and 52 week high is $13.50. Within the last week, the shares have lost -6.14% of their value.