Interesting volume in in-the-money calls on Forest Labs today, with nearly 5000 contracts trading, (10x the number of puts) and most of the volume in the June 32 calls, currently $2.72 in the money. Volume started at 12:29 when shares were at $34.58, with relatively small lot sizes. ISE data confirms flow is opening for a customer buyer. FRX upside calls were active yesterday after SeekingAlpha had a piece out naming it a potential target.
About the Author (Author Profile)
Henry Schwartz is the president of Trade Alert LLC, a provider of real-time options analysis tools to leading Wall Street firms. His systems analyze hundreds of thousands of transactions per second to help professionals identify and interpret market activity in real time, supporting informed trading decisions and intelligent idea generation. He has held institutional trading and management roles with Bank of America, Bear Stearns, Salomon Brothers and the Hull Group, and made markets on the CBOE and AMEX floors in the US, and EUREX and MONEP overseas. Prior to founding Trade Alert, he led the electronic market-making group at Bank of America coincident with the launch of the International Securities Exchange. He received his bachelor’s degree in Economics from the University of California, San Diego and his MBA from NYU’s Stern School of Business.