Short-Term Traders Target Tekmira Pharmaceuticals Corporation (TKMR)

Tekmira Pharmaceuticals Corp (NASDAQ:TKMR) is bucking the broad-market trend lower today, and was last seen 8.6% higher at $20.02. Stoking the bullish flames are rumors of a big announcement, as well as reports of new Ebola diagnoses in Guinea. In the equity's options pits, overall volume has jumped to six times the average intraday pace, with speculators split on TKMR's short-term trajectory.

Drilling down, TKMR's April 20 put is most active, and it appears new positions are being purchased. By initiating the long puts, speculators expect the stock to move back below $20 by the close on Friday, April 17 -- when back-month options expire.

On the call side, the security's March 21 strike has seen the most action, with signs suggesting buy-to-open activity here. By purchasing new positions at this out-of-the-money strike, traders are betting on TKMR toppling the $21 mark by week's end, when the front-month series expires.

From a wider sentiment perspective, short-term calls have been popular in TKMR's options arena. Specifically, the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.28 ranks lower than 75% of similar readings taken in the past year. In other words, speculative traders are more call-heavy than usual toward Tekmira Pharmaceuticals Corp (NASDAQ:TKMR).