Options Radar: Biogen Idec, Himax Technologies, and Boulder Brands

Reviewing notable options activity on Biogen Idec Inc, Himax Technologies, Inc. (ADR), and Boulder Brands Inc

Oct 22, 2014 at 12:06 PM
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Three stocks seeing notable options activity today are biopharmaceutical firm Biogen Idec Inc (NASDAQ:BIIB), LCD specialist Himax Technologies, Inc. (ADR) (NASDAQ:HIMX), and health food issue Boulder Brands Inc (NASDAQ:BDBD). Here's a look at how speculators have been placing their bets on BIIB, HIMX, and BDBD.

  • Biogen Idec Inc (NASDAQ:BIIB) has plunged 8% today to trade at $300.68, after reporting lower-than-expected third-quarter sales of its drug Tecfidera. Additionally, the company revealed the first case of progressive multifocal leukoencephalopathy (PML) in a patient that was taking its multiple sclerosis treatment. Amid today's gap lower, the stock has been placed on the short-sale restricted (SSR) list, and put volume has soared to six times the intraday average, as speculators look for alternate ways to be bearishly on BIIB. Drilling down, buy-to-open activity has been detected at the equity's weekly 10/24 300-strike put, as traders roll the dice on additional losses through week's end, when the series expires.

  • Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) is down 4.6% to linger near $7.65, after Google Inc (NASDAQ:GOOGL) yesterday said it will not increase its stake in the company. This move lower is just more of the same for a stock that's shed 48% year-to-date, yet the withstanding trend in HIMX's options pits has tended toward the call side. Today, however, with the stock being placed on the SSR list, puts are trading at three times what's typically seen at this point in the day. Upon closer inspection, new positions are being established at HIMX's November 7 strike.

  • Boulder Brands Inc (NASDAQ:BDBD) has shed 22.2% -- making it one of the biggest percentage losers on the Nasdaq -- and earlier tagged a fresh 52-week low of $8.72, after issuing a profit and revenue warning for its third quarter, and downwardly revising its fourth-quarter earnings outlook. As such, BDBD is now sitting on the SSR list, and option volume is running at 13 times the expected intraday amount. Amid this accelerated demand, the equity's 30-day at-the-money implied volatility has surged 37.9% to an annual high of 76.7%. With BDBD last seen at $9.93, speculators from both sides of the option aisle are targeting the 10 strike. Specifically, fresh bets are being initiated at BDBD's November 10 call and put, as well as the March 10 call. The company will unveil its full third-quarter results before the open on Thursday, Nov. 6.
 

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