Forest Labs (FRX) is running to session highs in active trading of 3.9 million shares. 8,888 calls and 487 puts traded on the stock. Speculators are active in Aug 33, Jun 35, and June 36 calls on talk activist Carl Icahn is preparing another proxy contest for control of the company (Midnight Trader). Icahn, along with affiliates, already owns 9.9 percent of FRX. Vols are moving up 8 percent to 28.
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.