Cleveland-Cliffs (NYSE: CLF) -- calls bid up aggressively on heavy volume on buyout chatter. CLF, a producer of iron ore pellets, is recently up $1.75 to $75.30 on unconfirmed take over chatter. CLF has a market cap of $3 billion. CLF is expected to file its 1st quarter 2007 form 10-Q in early June. CLF May 75 calls have traded 105 times on transaction volume of 1,712 contracts above its open interest of 935 contracts. CLF May 75 calls are bid $1.70 above its theoretical value of $1.05. CLF May 80 calls have traded 69 times on transaction volume of 1,818 contracts above its theoretical value of 626 contracts according to Track Data. CLF May 80 calls are bid 45 cents above its theoretical value of 04 cents, suggesting hedging for upside risks.
Mosaic Co. (NYSE: MOS) -- volatility & volume Spikes on buyout Speculation. MOS, a producer & marketer of concentrated phosphate and potash crop nutrients, was spun out of Cargill in 2004. MOS is recently up $1.16 to $30.63. MOS is frequently mentioned as a take out target of Potash Corp. (NYSE: POT). MOS call option volume of 4,791 contracts compares to put volume of 643 contracts. MOS June option implied volatility of 48 is above its 26-week average of 36 according to Track Data, suggesting larger for upside price risks.
Option volume leaders today are: Dendreon Corp. (NASDAQ: DNDN), Advanced Micro Devices (NYSE: AMD), Apple Inc. (NADSAQ: APPL) and Mylan Labs (NYSE: MYL).
Daily Option Update is provided by Stock Options Specialist Paul Foster of theflyonthewall.com.
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Reader Comments (Page 1 of 1)
5-14-2007 @ 6:06PM
shane Flo said...
COMMON SENSE tells me Steve Jobs has an unrevealed trick up his sleeves that won't be revealed until the the WDC. The accelerometer technology used in the iphone I believe has a dual purpose. My guess is that if I can think of this, then all those brains at Apple should have figured this out during development.....Long time ago.... If you think about how the Wii operates you will figure it out. If you were using the browser on the iphone reading a news article fo example, like most PDA's the screen is so small you constantly have to move left or right to read. Good thing about the iphone you can use your fingers on the touch screen to slide left or right. This is already a leap up above PDA's. But I believe there is more... the iphone will give you an option to use the accelerometer technology for this. Imagine while sitting on a chair you are holding the iphone about 12 inches from your eyes in front of you. Now if you decide you'd like to move the screen towards the right, your hand would hint to the right and the rest of the news article would appear instantly. Sort of like sliding a rectangular piece of glass on a newspaper surface. Up, down, left , right. Even easier than two sliding fingers. And last thing is... why just use this great technology for simply knowing if the screen should be up right or in widescreen???? I'm guessing the Apple minds are creative enough to exploit the "accelerometer". DON'T YOU? yes, I do own Apple.