NEW YORK (Market Intellisearch) -- ARNA options saw interesting call activity today. A total of 830 put and 5,536 call contracts were traded raising a low Put/Call volume alert. Today's traded Put/Call ratio is 0.15. There were 6.67 calls traded for each put contract.
The skewed options ratio suggests that traders are rebalancing their portfolios in anticipation of a price shift. Today’s unusual volume activity directly reflects investor outlook and confirms that a stock move is imminent.
Arena Pharmaceuticals closed at $1.59 in the last trading session and opened today at $1.60. The stock price declined $0.02 (-1.26%) to $1.57 in today's trading session. ARNA is trading between the range of $1.54 - $1.60. Volume is 5,327,731 in relation to the three month average volume of 14,194,000 shares. The technical momentum Relative Strengh Index indicator shows oversold conditions. ARNA is trading below the 50 day moving average and lower than the 200 day moving average. The stock's 52 week low is $1.51 and 52 week high is $8.00 http://www.marketintellisearch.com/articles/1057011.html
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