Biogen Idec (BIIB) has added $1.54 to $55.56 and options volume is 4.5X the recent average daily. Speculative call buyers are dominating the action and reacting to renewed takeover speculation — Briefing. Aug 60 calls are the most actives. 4672 traded, with 39 percent of the flow on the bid and 51 percent at the offer. Aug 55, Aug 65, Sep 60, Sep 65, and Oct 65 call options are seeing interest as well. 16K calls and 1,100 puts traded so far. Implied volatility is up 15 percent to 38.
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.