Cephalon Seeing Bullish Options Trades (CEPH)

Shares of Cephalon Inc. CEPH are higher on the session by 0.95%, currently trading $59.26. The stock is moving higher on higher than normal volume today, as it has already surpassed 1.2x the average daily volume by mid-day. CEPH has been cascading lower over the past two months, but appears to be bottoming out around here. Calls are also being purchased on the name with the June $60 call traded 1,400 times on open interest of 2,181 contracts and the June $65 call traded 3,021 times on 2,697 contracts. The August $70 call also traded 3,000 times on 1,867 contracts. Call volume is running at 3.67x the daily average with 18% of all calls traded being purchases on the offer. Cephalon, Inc. is an international biopharmaceutical company engaged in the discovery, development and commercialization of products in four core therapeutic areas: central nervous system (CNS), pain, oncology and inflammatory disease.