Etrade Financial (ETFC) adds 12 cents to $10.17 on heavy volume of 4.2 million shares, which is more than double the usual. At the same time, an 18,800-contract block of Jan 15 calls is bought on the online broker for 33 cents per contract. 20,390 now traded and appears to be opening activity. Mar 10, Apr 10, Apr 11, and Jul 12 calls on ETrade are seeing interest as well and levels of implied volatility rose 2.5 percent to 37. Douglass Kass of theStreet’s Real Money says his “Gnome continues to hear ETFC takeover chatter” on twitter (@dougkass).
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.