Puts Purchased on Affymax

Shares of Affymax AFFY are lower on the session by 0.96%, currently trading at $7.25. The stock has been moving largely higher over the past four months and is currently trading above the 50-day moving average. Options traders are buying puts on the name today. A short while ago the August 2011 $6.00 put traded 800 times on open interest of 402 contracts. Overall put volume is now running at 30.76x the daily average with 91% of all puts traded being purchases on the offer. Affymax, Inc. is a biopharmaceutical company developing drugs to improve the treatment of serious and often life-threatening conditions. Its product candidate, Hematide (peginesatide), is designed to treat anemia associated with chronic renal failure.