UPPED TO .49 DEBIT

SEEMS THERE WAS INITIAL MISPRICING PARITY WHEN ORDER WAS BEING LOOKED AT, AND THE MARKET MAKERS CAUGHT US!

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HAVE A FEELING ARNA WILL GET APPROVAL TODAY FOR ITS NEW WEIGHT LOSS DRUG. HERE IS AN ACCOMPANYING ARTICLE AS WELL.

http://seekingalpha.com/article/686231-bio-pharma-momentum-movers-for-today-will-arena-s-weight-loss-drug-lorcaserin-be-approved?source=yahoo

THE TRADE WILL ONLY COST OF .39 CENTS EACH CONTRACT IF WRONG AND ARNA DOES NOT FALL BELOW 6 PER SHARE. WE USED A JUN29 6-4 BULL PUT SPREAD AND ITS HIGH PREMIUMS TO PAY FOR A JUN29 ARNA 9-12 DEBIT CALL SPREAD.

MAX VALUE IF RIGHT AND ARNA ABOVE 12 BY JUN29 IS3.00 WHEN WE SPENT .39

Leg 1 Leg 2 Leg 3 Leg 4 Price Duration
Option ARNA Jun 29 2012 6.00 Put
Action Sell to Open
Contracts 7
Option ARNA Jun 29 2012 4.00 Put
Action Buy to Open
Contracts 7
Option ARNA Jun 29 2012 9.00 Call
Action Buy to Open
Contracts 7
Option ARNA Jun 29 2012 12.00 Call
Action Sell to Open
Contracts 7

Debit

  .39


Day Order

Quote ARNA   8.65   -0.20 Bid 8.65 Ask 8.66 Volume 7,785,249
ARNA JUN 29 2012 6.00 PUT
ARNA JUN 29 2012 4.00 PUT
ARNA JUN 29 2012 9.00 CALL
ARNA JUN 29 2012 12.00 CALL
Bid 0.96 0.36 2.00 1.00
Ask 1.04 0.40 2.04 1.05
Last 1.00 0.40 2.00 1.00
Change -0.05 [-4.76%] -0.03 [-6.98%] -0.10 [-4.76%] -0.09 [-8.26%]
Volume 660 1,077 577 784
Delta 0 0 0.38 0
Open Int 3,638 3,984 3,215 6,751
Desc ARNA Jun 29 2012 6.00 Put ARNA Jun 29 2012 4.00 Put ARNA Jun 29 2012 9.00 Call ARNA Jun 29 2012 12.00 Call
Net Quote
Bid
0.27debit
Mid
0.38debit
Ask (natural)
0.48debit
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