Puts Active as VIVUS Plunges (VVUS)

Shares of VIVUS, Inc. VVUS are pushing lower this morning, after the FDA warned about potential birth defects relating to its Topamax drug. Shares were down as much as 11% on the news, but have since recovered and are only lower by 4.79%, trading at $6.71.

Put volume also surged on the news; within the first 20-minutes of trading over 5,000 puts have traded versus 726 calls. The put volume is vastly exceeding the daily average, which is closer to 1k.

The March $7.00 and $6.00 strikes are the most active.

VIVUS, Inc. is a biopharmaceutical company focused on the development and commercialization of therapeutic products for underserved markets. Its investigational product pipeline includes two late-stage clinical product candidates.