Notable Put Options Activity in MAP Pharmaceuticals

Shares of MAP Pharmaceuticals MAPP are higher on the session by 3.79%, currently trading at $13.97. The stock has been moving largely higher over the past three weeks and is currently testing the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the January 2012 $12.50 put, which has traded 500 times on open interest of 1,000 contracts. Small lots are active on the name today. Put volume is outpacing call volume today. MAP Pharmaceuticals, Inc. is a development-stage company. As of December 31, 2010, the company was focusing to advance its product candidate, LEVADEX orally inhaled migraine therapy, which is an orally inhaled version of dihydroergotamine mesylate, for the acute treatment of migraine.