Washington Mutual (WM, news, chart, volatility) shares saw a spike to session highs of $3.10 roughly 20 minutes ago. The move coincided with an American Banker report that JP Morgan (JPM) is in advanced talks to buy the bank. Active trading in the options market continues, with 87,000 WM calls and 45,000 puts traded on the session.
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.