Elan (ELN) hit session highs of $9.13 and total options volume is running at 15 times the average daily levels on takeover chatter. Pfizer (PFE) is being mentioned and follows a FT report Monday that PFE might be looking for a large acquisition to improve its financial health. January 2010s are the most actives, with a strategist apparently buying the 10/17.5 call spread while selling 5 puts, 15,000X. It could be closing.