Ariad Pharmaceuticals Inc fka ARIA

[biotech_researcher]

Actually, the high volume at the close is probably not option related, rather it's probably a "cross" trade. This is where an institution contacts another institution, by whatever means, and agrees to purchase let say 1.3 million shares of Ariad at $3.50 per share. So, the price is agreed upon, and the NASDAQ exchange records the transaction and it's done, between the two parties. This happens all the time..