Notable Options Activity in Achillion Pharmaceuticals, Inc.

Shares of Achillion Pharmaceuticals, Inc. ACHN are lower on the session by 15.47%, currently trading at $8.03 Option volatilities are higher with April21st +4.6 points, May +16.5 points, and June +8.2 points. The strike seeing the heaviest action is the May 2012 $10.00 call, which has traded 1,430 times on open interest of 190 contracts. ACHN has earnings scheduled for May 3rd. They also have a HepC drug and the drop may be due to the GILD/BMY news this morning.