Mannkind moves lower today on no specific news driver

|By:, SA News Editor

Shares of Mannkind (MNKD -8%) slides today on no specific news catalyst.

The September 5 puts are seeing heightened interest on the move lower by the underlying shares.

Over 10.2K contracts have traded so far - with the majority of today's volume occurring in one single transaction - versus open interest of 1.1K.

The move has pushed implied volatility up around 14 points to around 195%

Of note: Data from its Phase 3 study of Afrezza is expected later this summer.