Puts Purchased on GTx, Inc. (GTXI)

Shares of GTx, Inc. GTXI are higher on the session by 7.80%, currently trading at $5.53. The stock has been moving largely higher over the past four months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the May 2011 $4.00 put was purchased 2,000 times, on the offer, on open interest of 10,788 contracts. Overall put volume is now running at 4.87x the daily average with 93% of all puts traded being purchases on the offer. GTx, Inc. is a biopharmaceutical company dedicated to the discovery, development and commercialization of small molecules that targets hormone pathways to treat cancer, osteoporosis and bone loss, muscle loss and other serious medical conditions.