Kings Pharmaceuticals (KG, news, chart) is seeing bullish order flow early on renewed takeover chatter. Pfizer (PFE) is once again being mentioned as a possible suitor. KG is trading up 33 cents to $11.93 and volume in the options market is running 5 times the usual. The August 12.5s, which have just ten days of life remaining, are the most actives. 2,200 contracts have traded, with almost 90 percent of today’s volume trading offerside.
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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.