Chesapeake (CHK, news, chart, volatility) is seeing bullish order flow early. 17,000 calls and 2,850 puts have traded on the stock. Shares are up $1.43 to $24.38 on unsubstantiated takeover chatter. BP (BP) is being mentioned as a possible suitor.
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Chesapeake Energy Corp (CHK) $24.95 +8.71%
Posted on November 5th, 2008 10:10 am
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3 users commented on " Chesapeake Energy Corp (CHK) $24.95 +8.71% "
Follow-up comment rss or Leave a TrackbackFrom Marketwatch: CHK “rose 12.5% to $25.79 despite weakness in the energy sector on Wednesday, amid reports that it could be a takeover target. There’s talk about the possibility of a buyout by London-based BP, according to published reports. The Wall Street Journal reported Oct. 16 that BP was exploring an acquisition of natural gas properties owned by Chesapeake, which has formally announced plans to raise cash by selling assets”
Wonder what’s going on with a buyout by BP.
I bought Nov 27.5 and 30 calls about a month ago.
Not sure. haven’t heard anything else since Wednesday. Not much volume today. 15,000 calls and 8,000 puts, about 54 percent the expected volume for this time of day. Share volume running about 45 percent of the usual.