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Options Bears Take Fresh Stab at Biotech Amid Rally Topping 500%

relates to Options Bears Take Fresh Stab at Biotech Amid Rally Topping 500%
Photographer: Marko Subotin
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Knives are out again for biotechnology stocks amid a rally that has burned skeptics repeatedly for six years.

Demand for options tied to declines in an exchange-traded fund tracking the companies rose to the highest level in three years relative to bullish ones, according to data compiled by Bloomberg. The Nasdaq Biotechnology Index has risen 549 percent since March 2009, including a 3.8 percent advance last week.