Calls Sold on Exelixis (EXEL)

Shares of Exelixis Inc. EXEL are higher on the session by 3.01%, currently trading at $3.77. The stock has been running lower and lower over the past six months; it is off more than 50% during that time period. Options traders believe that any rally in EXEL will be short-lived. The August $5.00 call was sold 2,500 times, on the bid, for $0.10 today; open interest on the strike is 2,790 contracts. This may indicate that a long call position has been closed out for lack of bullishness. Call volume in now running at 3.62x the daily average. Exelixis, Inc. is focused on discovering, developing and commercializing therapies for the treatment of cancer and other serious diseases. The majority of its programs focus on discovery and development of small molecule drugs for cancer.