Alexion Pharmaceuticals (ALXN) is up $2.55 to $104.85 in active trading of 875K shares after FT Alphaville ran a story suggesting Roche might make a bid for the company — LINK to article. In ALXN option action, call volume is outpacing put volume in the stock ten-to-one. 2,425 calls and 242 puts so far. The top trade looks like a Jan 100 – 130 call spread for $12.80, 182X. Almost 600 now traded. Aug 110 and 140 calls are the next most actives. 30-day ATM vols are down 2.5 percent to 32.
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.