Yahoo shares are down 10c to $13.63 and option volume is 5x the daily driven by large call calendar spread as the Jan/April $16C trade 30,000 times. This appears to be a roll of bullish exposure as the Jan were sold and April bought for a 27c net debit. The stock has not traded above $16 since May and that was just a small poke up as part of a longer downtrend. Remember when MSFT was ready to pay $30+ for the company?