Sun Micro (JAVA) is down 20 cents to $7.90 and showing relative weakness on talk IBM (IBM) acquistion speculation, which lifted shares almost 80 percent last Wednesday, might not happen. JAVA options are active, with 10K puts and 12K calls traded so far. The top trades of the day seem to reflect hopes for higher prices, as the April 8/10 call spread traded 1900X for 83 cents early. Looked buyer initiated.
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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.