Forest Labs (FRX, news, chart) is seeing six times normal trading volume on renewed takeover chatter. 13,000 FRX calls have traded, compared to 750 puts. The stock is up 84 cents to $38.24 on talk Pfizer (PFE) might be looking at the company. The August 40 calls, which have less than six trading days of life remaining, are the most actives. 7,800 contracts have traded, with a little more than half trading offerside. 2,350 of the September 45s traded, also with 55 percent trading on the askside.
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.