Momenta Pharmaceuticals (MNTA) loses 14 cents to $14.76 and one strategist pays 25 cents for the Jan 10 – 12.5 (2X1) put ratio spread, 4000X on PHLX. Looks like a new position and might be a hedge. The Food and (register to read more …) [...]

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Saks (SKS) implied volatility surged after the Daily Mail, a British newspaper, said a consortium of investors might be looking to buy the retailer for $11 per share. Shares hit a morning high of $8.85 and were recently up $1.35 (register to read more …) [...]

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Dollar Thrifty (DTG) lost 10 cents to $48.05 yesterday and the Sep – Oct 55 call spread traded at 42.5 cents, 5000X in midday trading Monday. Open interest data indicates a roll from one month to the next. Shareholders are (register to read more …) [...]

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Hecla shares are up 20c to $5.35 and option volume is running 4.5x the daily average driven by activity in the December $5 call. The contract has seen multiple 3,000-4,000 blocks trade totaling 24,000 contracts now, of what appears to (register to read more …) [...]

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Big Print in CVB Financial as a 17,000 block of the October $5 puts (total of 20,000 now) trade in what looks like opening purchase. Shares have tumbled some 25% in the past two weeks.

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Somaxon Pharmaceuticals (SOMX), a San Diego-based drug manufacturer, is up 35.3 percent to $4.54 after announcing a joint promotion agreement with PG for the company’s Silenor insomnia treatment. Meanwhile, options volume is 107X the average daily, with about 25,000 calls (register to read more …) [...]

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3PAR (PAR) is up 70 cents to $26.79 and options volume is running 21X the average daily on speculation DELL might make a counter-bid for the storage device maker. H-P made a move to buy the company yesterday at a (register to read more …) [...]

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Monster Worldwide, the online job posting site, is down 30c to $10.30 a new 52-week low and option volume is 23x the daily average driven by in the September $10 puts in which block of 9,800 (total 11,000 contracts) have (register to read more …) [...]

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Flamel Tech, a French biotech company, sees notable trade as the August/September $5 call spread trades 8,700x in what looks like a roll to maintain a bullish position. Similar trades have occurred over the past year (see market color 3/19), (register to read more …) [...]

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Intrepid Potash (IPI) is up $1.49 to $25.45 and rallying along with its peer, Potash (POT), after BHP Billiton made a $39 billion takeover offer for POT. The deal, which Potash has rejected, would be the largest of the year. (register to read more …) [...]

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