Option update: Onyx Pharma volatility elevated into 20% pre-open sell off


Onyx Pharma (NASDAQ: ONXX) is recently is down $9.23 to $35.70 in pre-open trading.

ONXX and its partner Bayer halted Phase 3 trials of Nexavar and after the company reported a larger than expected Q4 loss.

ONXX overall option implied volatility of 63 is above its 26-week average of 57 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

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Last updated: February 13, 2012: 03:56 AM

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