Bear Stearns (NYSE: BSC) is recently trading at $9.10 in pre-open trading, above its close of $5.96.
The New York Times reported JPMorgan (NYSE: JPM) was in talks to quintuple its offer for BSC to $10, citing people involved in the negotiations.
BSC overall option implied volatility of 193 according to Track Data, suggesting wide price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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