Sun Microsystems Inc (JAVA) $8.18 +0.00%
Sun Micro (JAVA) is down 4 cents to $8.14 and options volume is running 3X the average daily. Most of the action is in the Jan10 7.5 – 9 call spread, which has been bought 30000X at $1.05. This looks like either a roll down in strikes or a straight purchase. Either way, it seems like a bullish play ahead of an expected EU decision regarding Oracle’s bid for JAVA, which values Sun at $9.50 per share in cash.
Category: All Stocks, Mid Cap Stocks, Technology Hardware & Equipment
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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.
