Lexmark International (LXK, news, chart) is seeing 6 times normal trading volume on takeover chatter. Shares are trading up 83 cents to $36.80 and 8,400 LXK call options have traded, compared to just 167 puts. The September 40 calls are the most actives. More than 6,000 have traded, with 74 percent trading offerside. Short term speculative call buying also seen in the October 40s and 45s.
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.