Shire Limited (SHPGY) $58.96 +2.78%
Call options on Shire Pharmaceuticals (SHPGY) saw active trading today after Bloomberg said that a 5.5 percent rise in SHPGY in London trading was being attributed to speculation that Pfizer (PFE) is poised to make a bid for the company. In US trading, options volume is running four times normal, including 23,000 call options and only 1,652 puts. The stock is up $2.05 to $53.97. However, citing a banking source, FT Mergermarket is skeptical about the speculation: reporting that a 5 percent increase in the stock price would automatically trigger a Rule 2.4 announcement, which has not happened.
Category: All Stocks, Mid Cap Stocks, Pharmaceuticals & Biotechnology
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About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
