Heavy Call Selling Seen on Amylin Pharma (AMLN)

Shares of Amylin Pharmaceuticals Inc.

are higher on the session by 15.23%, currently trading at $19.03. The stock is rocketing higher today after possible competitor, Roche, said it would postpone an application for a diabetes drug under development. Options trading is favoring the call side today, though the vast majority of transactions have been sales. The July $16.00, 17.50, 19.00, and 20.00 strikes have all seen significant volume. Call volume is running at over 5x the daily average. Amylin Pharmaceuticals, Inc. is a biopharmaceutical company engaged in discovery, development and commercialization of medicines. The Company is marketing two first-in-class medicines to treat diabetes, BYETTA injection and SYMLIN injection. It has an agreement with Eli Lilly and Company (Lilly), for the global development and commercialization of exenatide.