ALKS – Alkermes, Inc. – A three-legged bullish options combination trade enacted on biotechnology company, Alkermes, Inc., this afternoon indicates long-term optimism by one savvy strategist today. Alkermes’ shares are up 1.10% to $11.00 as of 3:12 pm (ET), but earlier rallied more than 4.75% to touch an intraday high of $11.40. The bullish player essentially sold short a chunk of put options in order to finance the purchase of a debit call spread in the November contract. The trader picked up 5,000 calls at the November $12.5 strike for a premium of $1.60 apiece and sold the same number of calls at the higher November $15 strike for $0.65 each. Finally, the third leg of the transaction involved the sale of 5,000 puts at the November $10 strike for $1.35 a-pop. The investor responsible for the trade pockets a net credit of $0.40 per contract, and keeps the full credit received as long as Alkermes’ shares trade above $10.00 through November expiration day. Additional profits accumulate if shares of the biotech firm rally above $12.50, with maximum potential gains of $2.90 per contract – including the credit received today – available to the trader should shares of the underlying stock surge more than 31.5% to exceed $15.00 by expiration.