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Biogen (BIIB) Poised to Move Higher after Consolidation

Biogen (BIIB) Poised to Move Higher after Consolidation

by | Jul 7, 2021 | Open Interest Alerts

Biogen (BIIB) shares have pulled back well off the highs following the surprise approval of its Alzheimer’s drug which was seen as a major catalyst for shares and have now based above some key retracement levels. BIIB shares are regaining some momentum after a nice base and the options activity has been mostly positive with October $400/$450 call spreads, October $425 calls bought 1000X, January 2023 $400 puts sold to open 1000X and the original the 2800 October $250 calls bought on 6/3 remaining in open interest the entire time.