Celgene (NASDAQ: CELG), a biopharmaceutical company with a market cap of $$26 billion, was up $1.51 to $60.80 in pre-open trading.

Cowen says "ECOG Revlimid Study-Interesting Post Hoc Analysis Shows Promising Survival rates With Long-Term Use in The Elderly."

CELG over all option implied volatility of 39 is below its 26-week average of 43 according to Track Data, suggesting decreasing price risk.

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