Ashland (ASH) is seeing 13 times its normal trading volume on talk a German company might make a bid for the company (per Briefing). Shares are up $1.79 to $56.23 and more than 6,000 call options have traded, compared to 1,156 put options. Most of the action is in the June 55 and 60 calls. However, a good number of contracts have been hitting the bid, suggesting that some players might have opened positions earlier in the day and are now banking profits following the midday run higher.
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.