Genentech Inc. (NYSE: DNA) is recently down $4.87 to $69.30.

DNA and Biogen Idec Inc. (NYSE: BIIB) announced that the phase three EXPLORER study evaluating Rituzan in Systemic Lupus Erythematosus (SLE) failed to meet its primary endpoint.

DNA call option volume of 31,631 contracts compares to put volume of 18,340 contracts. DNA May option implied volatility is at 27 and June is at 30; near its 26-week average according to Track Data, suggesting non-directional price movement.

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